AustraliaPost today announced its 2021/2022 financial results. While group revenue was up compared to 2020/21, overall profit before tax is down 45.1%.
According to Australia Post, after a strong first-half profit, in the second half AP incurred a loss of $144.5 million. This can be attributed in part to apost-COVID return to in-person shopping, along with continuing losses in the letters business.
This week it was announced that Australia Post has lodged a draft proposal with theACCC to increase the basic postage rate from $1.10 to $1.20.
Prices for concession stamps (60c) and domestic seasonal stamps (65c) will remain the same.