Australia Post lifts despite letter drop
Letter volumes fell slightly last year – the result of cost-focused businesses amalgamating their bills into one statement, less junk mail with the slowdown in advertising and increased internet transactions – but Australia Post still lifted its net profit 11.4% to $330.8 million.
The profit increase was driven in part by Australia Post lifting the price of a basic postage stamp in January from 45¢ to 50¢.
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