Canada Post reports profit

Canada Post has reported a before-tax profit of $13 million in the third quarter of 2014, compared to a before-tax loss of $129 million in the third quarter of 2013, according to a Nov. 26 press release from Canada Post.

Canada Post said that the results were “mostly due to the impact of lower employee benefit costs, continued growth in the Parcels business and new pricing measures for Transaction Mail [letter mail] contained in the Corporation’s Five-point Action Plan.”

Canada Post also reported that the volume of letter mail continues to fall. It was down 175 million pieces, or 5.1 percent, in the first three quarters of 2014, as compared to that time period in 2013.