Canada Post’s 2017 revenues of C$*8,226m were driven by strong growth in its e-commerce operations. Canada Post’s domestic parcels volume growth was 22.3%, meant it turned over C$2bn from parcels for the first time. The group’s operating profit was C$226m, up 51.8% and its net profit was C$144m, up 77.8%.
The company changed its strategic focus to e-commerce in 2011 and has shown strong growth in parcels ever since. In 2017, it generated $309m in parcels revenue, up 25.1%. Meanwhile, transaction mail volumes continued to decline (-5.5% in the year).
Purolator revenues of C$1,630m were up 6.7% in the year. The company’s profit before tax was C$120m, up 79.1%. Through SCI Group, its logistics division, Canada Post reported C$283m in revenue, up from C$259m in the previous year. Its profit before tax of C$21m bettered its result from the previous year of C$20m.
Source: Canada Post
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