Australia Post revenues up 3.7% in FY17

Australia Post

Australia Post produced revenues of A$*6.8bn in FY17. This represented a 3.7% year-on-year increase. EBITDA grew 29.1% to A$516m, with profit after tax of A$95m, up from A$36m in FY16.

Australia Post suffered its largest decline in its volume of letters handled in a financial year at 11.8%. However, sales from its domestic and international parcel businesses rose 4.8% in the year.

Christine Corbett, Acting Managing Director of Australia Post, commented, “With new entrants to the market contributing to overall growth in eCommerce volumes, we expect our parcels business to continue to grow, allowing for reinvestment in customer initiatives like MyPost, parcel lockers and digital trusted services.

The results enabled Australia Post to pay dividends of A$50m in the year, after none were paid in the previous year.

Source: Australia Post