CANADA POST’S FIRST QUARTER RESULTS SHOW THE IMPACT OF STRIKE ACTION

Canada Post’s first quarter results show the impact of strike action

Canada Post has reported $23 million profit before tax in the first quarter, which ended March 30 – a $45 million decline compared to the same period a year earlier.
The company put it down to the “continued impact from major customers making other delivery arrangements last fall and into 2019.”
Canada Post revenues totalled almost $1.7 billion in the first quarter of 2019 – a decrease of $26 million or 1.5 % from the first quarter of 2018.
Parcels results
Revenue increased by $20 million or 3.4 % and volumes increased by about 1 million pieces or 2.6%, compared to the same period in 2018.
Domestic Parcels, the largest product category, drove growth in this line of business, as revenue increased by $40 million or 9.4 % and volumes grew by 6 million pieces or 14.4 %, compared to the first quarter of 2018. The increases in revenue and volumes were driven by major commercial customers as well as the continued growth in e-commerce.
Transaction Mail results
In the first quarter of 2019, Transaction Mail volumes decreased by 68 million pieces or 8.1 % and revenue decreased by $31 million or 4 %, compared to the first quarter of 2018. For domestic LettermailTM, the largest product category, volumes decreased by 61 million pieces or 7.6 %, while revenue decreased by $22 million or 3.1 % compared to the same period a year earlier. This was despite a regulated increase in the postage rate for domestic Lettermail.
The company said: “The ongoing decline in mail volumes in the digital era remains a significant challenge.”
 Group of Companies results
The Canada Post Group of Companies reported a profit before tax of $39 million for the first quarter of 2019, compared to a profit before tax of $94 million for the same period in 2018.
The company said: “The $55 million decrease in profit was largely due to the results of the Canada Post segment. Purolator’s profit before tax was $12 million in the first quarter, compared to a profit before tax of $20 million for the same period in 2018. Results for the Group of Companies can also be attributed in part to a softening of the Canadian economy in late 2018 and in early 2019.”
Visit Financial Reports for the full report.

Shipping from Dubai | Air Cargo | Sea Shipping | International Relocation
AAC Cargo & International Shipping Services
Dubai, Unites Arab Emirates
Tel: +971 4 8880718
Email: info@aaccargo.ae
Websites:
https://aaccargo.ae
https://aaccargo.com/
http://expresscargo.ae/
Shipping & Moving Household & cars from Dubai to USA, Africa & Europe, we are international movers specialised in worldwide logistics from Dubai. Shipping from Dubai, International movers, Shipping to Africa, Shipping to Europe, International Relocation, Ocean Freight, Sea shipping, Air Cargo, air shipping, Shipping Company, Cargo Company, Dubai Shipping Company freight forwarding, Logistics company, Express Cargo, Shipping to South America, Shipping to Russia

Comments

Post a Comment

Popular posts from this blog

ASENDIA HELPS RETAILERS TO STREAMLINE THEIR LOGISTICS

Image
Asendia  Singapore has opened a high-tech Fulfilment Centre at  Singapore Changi Airport  in the latest phase of its global e-commerce focused strategy. Based in the city state’s Free Trade Zone (FTZ), the new facility offers Asendia customers the ability to manage their cross-border e-commerce fulfilment operations from Singapore, regardless of where their parent company is based, particularly useful for US and EU based e-commerce operators. This opening means that Asendia now has fulfilment solutions straddling three continents, Asia, Europe and North America. The Singapore Fulfilment Centre will offer services including; order processing, global distribution, storage and stock management. Due to Singapore Harbour’s free-trade status and proximity to Asian manufacturing hubs customers will benefit from reduced transport costs and more efficient tax and duty management. Commenting on the announcement, Dieter Pluess, CEO Asendia Singapore, said: “Asendia is lea...
Read more

Saudia Cargo transports 175 Tons of WWE Super Showdown equipment

Image
Saudia Cargo has successfully provided all its logistical capabilities to bring the WWE wrestling ring equipment of the show that were forwarded by Sound Moves via Saudia Cargo freighters Share by  Logistics Middle East Staff Wed 12 Jun 2019 04:13 PM Saudi Airlines Cargo Company transported 175 Tons of World Wrestling Entertainment (WWE) equipment all the way to Jeddah, from Maastricht in the Netherlands for the WWE event that took place at King Abdullah Sports City in June. Saudia Cargo has successfully provided all its logistical capabilities to bring the WWE wrestling ring equipment of the show that were forwarded by Sound Moves via Saudia Cargo freighters. Boeing 747-8s & Boeing 777s carrying total tonnages of 175 tons delivered the cargoes in May. The company also provided special Ground Handling for the heavy loads at King Abdulaziz International Airport’s Cargo station. Saudia Cargo resumes freigh...
Read more

Gallega is a member of Pacific Power Logistics

Image
Pacific Power Logistics , headquartered in Hong Kong with a global presence in over 120 countries. PPL Net, established in 2007, is a leading network of independent freight forwarders and logistic service providers. PPL Net is 100% neutral and not owned by any freight forwarder. Being fully dedicated to the management and development of our network, we take pride in supporting our members in developing their logistics business on a global scale . PPL Net is part of and fully supported by the PPL Networks Family of logistic networks. Shipping from Dubai | Air Cargo | Sea Shipping | International Relocation AAC Cargo & International Shipping Services Dubai, Unites Arab Emirates Tel: +971 4 8880718 Email: info@aaccargo.ae Websites: https://aaccargo.ae https://aaccargo.com/ http://expresscargo.ae/ Shipping & Moving Household & cars from Dubai to USA, Africa & Europe, we are international movers specialised in worldwide logistics ...
Read more