Australia Post 2019-2020 financial results

Australia Post has announced its financial results for the 2019/2020 financial year, reporting group revenue of $7,499 million and a profit before tax of $53.6 million.

Parcel and services revenue was up 15 per cent to $5,503 million. According to Australia Post, 73 per cent of its total revenue is now generated from highly competitive markets.

Letter revenues were down $220 million to $2.0 billion, despite the 10 cent increase to the BPR that took effect on 1 January 2020. Losses in the letters business grew by 26 per cent to a full year loss of $241 million.

Australia Post's annual report will be tabled in Federal Parliament in October.