Australia Post half-year results

Last week Australia Post announced its first half results for 2023/2024, showing an interim profit of $33.6 million. Australia Post says this is due in part to a record peak period with almost 100 million parcels delivered across Australia.

Letter volumes decreased 11.9%, and revenue declined by 2.7% to $857.9 million compared to the same period the previous year. Revenue decline was offset by the 10c BPR increase.

Australia Post’s domestic parcel volumes were largely flat, increasing by 0.9%.

In the post office network, over-the-counter transactions fell by 4.1%. Australia Post reported that foot traffic in corporate post offices continue to decline.