COVID-19 lockdowns and ongoing e-commerce growth boosted parcels performance in H1. However, a relaxation of pandemic rules and strong prior year performance led to a slowdown in H2. For the full year, parcels and express revenue increased 12%.
While elections boosted mail volumes and slowed sector revenue decline, the high costs of maintaining nationwide delivery, particularly as temporary relief measures introduced during the pandemic were lifted, weighed on Australia Post’s profitability. Higher parcel volume and pandemic-related costs resulted in a drop in EBIT margin for the year. For more details download the latest IPC Carrier Intelligence Report for Australia Post.
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