Australia Post 2017/18 financial results

Australia Post has announced a full-year profit after tax of $134 million for the 2017/18 financial year. This result was largely driven by substantial growth in parcel revenues along with efficiency gains.Domestic B2C parcel volumes grew by 10%, and international parcels grew by 19%.Letter volumes declined by 11%.Australia Post CEO/MD Christine Holgate said: “Although we continue to optimise our delivery network, we require $2 of parcel revenue to mitigate the impact of every $1 decline in letters."As part of the announcement, Australia Post noted it invested over $300 million last financial year in major processing parcel facilities across the delivery network, with a $500 million investment forecast for the current financial year.Australia Post paid a dividend of $79 million to the Federal Government.