Australia Post announces small pre-tax profit

Australia Post has announced a small pre-tax profit of $18.8 million for the 2024/2025 financial year, despite continuing losses in the letters business.

Changes to letter delivery frequency may have helped Australia Post gain efficiency in its delivery network, but the continuing fall in letter volumes is concerning – especially as the Australian population increases.

Australia Post’s parcels business grew 4.3% in an increasingly competitive environment.

Letter volumes declined 5.4% to 1.66 billion. Federal, state and local elections helped soften the decline.  The letters business returned a loss of $230.4 million, compared to a $361.8 million loss the previous financial year.

The number of Australia Post parcel locker banks has expanded to 919. Australia Post is looking to further expand this next year, particularly in high-density metro and suburban areas.

Australia Post CEO Paul Graham said that Australia Post must transform in order to remain an essential, relevant, self-funded and financially sustainable business.