Australia Post announces profit for 2020/2021

Australia Post today announced its results for the 2020/2021 financial year, including a profit before tax of $100.7 million.

There was a 27.1% increase in Australia Post branded parcels, while StarTrack volumes were up 12.1%.

Letter volumes declined 11.6%.

Overall, Australia Post's group revenue grew 10.3% to $8.27 billion. Much of this growth can be attributed to the boom in e-commerce parcels during the pandemic.