Reuters logo
Internet shopping drives Australia Post profit
October 11, 2012 / 7:31 AM / 5 years ago

Internet shopping drives Australia Post profit

SYDNEY (Reuters) - Australia’s love of online shopping has helped Australia Post deliver a 17 percent jump in annual profit, buoyed by a technology once thought to spell the death knell for post offices.

Online sales have been a bright spot in an otherwise lacklustre Australian retail environment, with a local bank estimating Internet-based sales in the year to July 2012 rose 30 percent to A$14 billion ($14.4 billion).

Australia Post reported an overall net profit of A$281 million, and said its parcel division was running at peak levels throughout the year, a trend previously only seen during the hectic Christmas period.

Its traditional mail business, however, has been hit by the rise of Internet email and other electronic communications, posting a loss of A$148 million.

In contrast to Australia Post’s bumper earnings, the U.S. Postal Service reported a $5.2 billion loss in just the April through June period. ($1 = 0.9759 Australian dollars)

Reporting by Thuy Ong; Editing by Richard Pullin

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below