Australia Post returns half-year profit of $1.4m before tax

Australia Post today announced a half-year profit of $1.4m before tax.The half-year group profit after tax was $16m, down 84% on the first half of the 2014-15 financial year.Addressed letter volumes are down 9.5% on the 2014-15 financial year, however domestic parcel volumes have increased.The results cover the period where the BPR was 70c and there was a single-speed letters service. POAAL will be watching the full-year results - which will include six months of the two-speed letters service and $1 BPR - with keen interest.Australia Post expects to return a profit for the full 2015-16 financial year.