Crown corporation delivered more than 7.7 billion pieces of mail and parcels last year
The Canada Post logo is seen on the outside the company's Pacific Processing Centre, in Richmond, B.C., on June 1, 2017. Canada Post lost $153-million before tax last year.Canada Post lost $153-million before tax last year as intense e-commerce competition slowed growth at its parcels business and an ongoing shift toward online communication prompted mail operation declines.
“Parcels processing and delivery requires more technology, space in buildings and vehicles, and time interacting with customers, making it significantly more costly than sorting and delivering letters,” Canada Post said in a release after markets closed Wednesday.While the number of addresses receiving daily mail and parcel service climbed by 168,000 in 2019, residents and businesses increasingly chat, advertise and do business digitally, Canada Post said.
Shippers are in uncharted territory as the crisis upends delivery patterns, with surging consumer demand mitigating a drop in corporate orders amid border closures and travel controls. The Canada Post Group of Companies, which owns the vast majority of the profitable Purolator, reported a loss of $23-million before taxes for 2019, compared with a loss of $118-million 2018. The net loss was $14-million compared with a net loss of $93-million in 2018.
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