Canada Post Manages Thirteenth Consecutive Year of Profitability
In its 2007 Annual Report, Canada Post Corporation reported its thirteenth consecutive year of profit for its Group of Companies. The Corporation recorded a consolidated net income of CAD54 million for the fiscal period ended December 31, 2007.
The return on equity for 2007 was 3.8 per cent. The corporation will make an annual dividend payment at the rate of 40 per cent of net income to its shareholder and is expecting to pay a dividend of approximately CAD22 million to the Government of Canada in 2008. The total dividends paid over the last five fiscal periods amount to CAD267 million.
Canada Post Corporation’s consolidated net income of CAD54 million was down 54.3 per cent from CAD119 million in 2006. Consolidated revenues reached CAD7.5 billion, an increase of 2.5 per cent trading day adjusted or CAD210 million over the comparative period a year ago, while the cost of operations increased by 3.2 per cent to CAD7,346 million. Canada’s population growth added some 200,000 new points of delivery during the year.
On a consolidated basis, Canada Post Corporation processed 11.8 billion pieces during the 12-month period, even as Transaction Mail volumes decreased by 1.6 pct year over year adjusted for trading days. In 2007, Canada Post met the corporate on-time service performance target of 96 per cent for the delivery of Lettermail. 1.00 USD = 1.00892 CAD
In its 2007 Annual Report, Canada Post Corporation reported its thirteenth consecutive year of profit for its Group of Companies. The Corporation recorded a consolidated net income of CAD54 million for the fiscal period ended December 31, 2007.
The return on equity for 2007 was 3.8 per cent. The corporation will make an annual dividend payment at the rate of 40 per cent of net income to its shareholder and is expecting to pay a dividend of approximately CAD22 million to the Government of Canada in 2008. The total dividends paid over the last five fiscal periods amount to CAD267 million.
“I am pleased with the results of the corporation during 2007,” said Marc Courtois, Chairman of the Board of Directors. “I am convinced that we have the committed management team and dedicated employees needed to continue to operate successfully.”
Canada Post Corporation’s consolidated net income of CAD54 million was down 54.3 per cent from CAD119 million in 2006. Consolidated revenues reached CAD7.5 billion, an increase of 2.5 per cent trading day adjusted or CAD210 million over the comparative period a year ago, while the cost of operations increased by 3.2 per cent to CAD7,346 million. Canada’s population growth added some 200,000 new points of delivery during the year.
On a consolidated basis, Canada Post Corporation processed 11.8 billion pieces during the 12-month period, even as Transaction Mail volumes decreased by 1.6% year over year adjusted for trading days. In 2007, Canada Post met the corporate on-time service performance target of 96 per cent for the delivery of Lettermail.
Moya Greene, President and Chief Executive Officer for Canada Post said, “As a Modern Post, our people are the heart and soul of our company; their commitment to deliver the best products and services to Canadians is truly the foundation of our success. Looking forward, we will continue to strive to create a successful, sustainable future for our employees, our customers and all Canadians. It is clear, however, that 2008 will be equally as challenging as 2007, if not more so.”
