Half year result confirm letters decline
Recently Australia post revealed its half-yearly results - a pre-tax profit of $1.4 million. Whilst this is a substantial drop from the FY15 half yearly results (some 84% from a profit of $98 million), AP have indicated they still project a full yearly profit. This is in contrast to the substantial and historic $222 million loss of the last full financial year.
Unfortunately, addressed letter volumes have declined 9.5% over the past year, on last year’s half-yearly statistics. It is clear now that not only are letter volumes decreasing but that the trend is accelerating. The decline over the previous HY results period was 7.3%.
The Union continues to monitor Australia Posts adherence to the principles set out in the Reform Accord of last year. It is clear from these results that the reform to letters business is necessary but must be done in a way that guarantees safe, secure and meaningful jobs for members in other parts of the business.
