Canada Post mail volume drops lead net losses

Canada Post posted $135 million in losses before tax in the third quarter (Q3). This has been put down to mail volume drops that have only partially been offset by parcels growth.

Revenues in Q3 were around $1.5 billion, a fall of $44 million compared to the same period in 2018. For year-to-date, revenues have totalled around $4.8 billion, a decline of 0.91% as against 2018.

Parcels volume growth was 6.1%, maintaining the company’s position as Canada’s leading parcels operator. Revenue grew by $22 million as against Q3, 2018.

Transaction Mail fell by 80 million pieces (11.3%) and revenues by 7.5% by $49 million. Meanwhile Domestic Mail volumes fell by 76 million pieces or a total of 11.3%, with revenues falling by $47 million (7.7%). There was an anomaly in this fall, with provincial and municipal elections in the period giving a slight increase in volumes and revenue – without these, volumes and revenues would have seen greater falls.

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