Canada Post swings to first-quarter loss despite 10 per cent growth in parcels revenues GlobeBusiness
Canada Post swung to a $66-million loss before taxes in the first quarter despite a surge in parcel volumes near the start of the COVID-19 lockdown.
Revenue increased two per cent to $1.68-billion with mail down 0.6 per cent to $729-million and parcels up 10.4 per cent to $666-million.Canada Post noted that the parcels growth rate was higher than a year ago but lower than the first quarter of 2018.
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