Canada Post’s 2017 Annual Report came out yesterday, and it confirms the position that we’ve taken for many years now: there is no financial crisis at Canada Post, there’s plenty of room for growth yet, and expansion and innovation mark the way to long-term viability for the service.
Where the Growth Is
The Canada Post segment made $74 Million before taxes, on revenue of $6.4 Billion – that’s revenue created by your work. The success was driven mainly by increased revenue from parcels, which grew faster than the lettermail revenue declined in 2017 and has now exceeded $2 Billion. Lettermail revenue is now less than half of Canada Post’s revenue. In 2016, parcel revenue rose faster than lettermail revenue declined in one quarter. Now it’s done so for the year as a whole – this is promising, but it’s a trend that we have to adapt to in order to address overburdening and to ensure proper route structures, and appropriate staffing for inside workers.