Australia Post announces half-year profit

Australia Post has reported an interim profit of $249.1 million for the first half of the 2024/25 financial year. This is an improved result on the same period last year.

During the six months to 31 December 2024, Australia Post delivered over 262 million parcels, representing a 3% increase on July to December 2023. Parcels revenue grew by 6%. The growth in parcel revenue is good news, especially in the face of increasing competition in the parcel delivery sector.

Letters revenue is up 10% on the same period last year despite a decline in volumes of 10.6%. The BPR increase of 30c in April 2024 helped improve revenue, but Australia Post still reported a loss of $83.7m for the letters business.

Australia Post CEO Paul Graham said today, "We are transforming the business to ensure it is financially sustainable, however further reform is required."