Tag: Australia Post

A major overhaul of Australia Post’s branch network is set to take place, with the country’s mail and parcel service provider planning to sell an estimated 150 franchises to private operators for as much as $1m. The private companies will run the post offices in the country’s major cities, using Australia Post’s price schedules, stock and uniforms. The mail provider will repurchase several licensed post offices across Australia and replace them with the new franchises, which will have a similar structure to its existing “Post Shops”.

Since the 1980s, Australia Post has transformed itself from a dowdy utility, with poor technology and worse industrial relations, into a model government business with a chief executive, Graeme John , who earns nearly $2 million. Now it is time to let this state-owned Cinderella face its competitors without artificial props.

There are fewer letters and parcels in the mail, but Australia Post still managed to lift its net profit 11.4% in 2002-03.

Despite total mail volume waning almost 20 million items to 5.26 billion, the profit came in at $330.8 million.

The Federal Government-owned Australia Post also provided $304.3 million in dividends to the Government, up from $291.8 million.