Australia Post mull corProcures future
Australia Post mull corProcures future (Page 4)
Read MoreTag: Australia Post
Australia Post warns difficult times ahead, reports $275m net profit
MELBOURNE, Oct 24 AAP – Australia Post today warned the present economic climate would make it difficult to maintain its current profitability as it handed its government owners $274.5 million in dividends.
According to its annual report tabled in Federal parliament today, Australia Post delivered a net profit of $274.5 million in the year to June 30, 2001, up six per cent on the previous year.
Its total payout to the Commonwealth jumped 76 per cent and comprised an ordinary dividend of $164.7 million and a special dividend of $109.8 million.
Australia Post chairman Linda Nicholls said the result was a major achievement in the face of a difficult trading environment and economic downturn.
Read MoreAustralia Post delivers the goods
Who is Australia’s most successful book publisher? Or the retailer that attracts about one million customers a day? For most, Australia Post would not be the first name that springs to mind.
Innovation and cutting edge ideas are not usually associated with an organisation seen by many as just a monopoly-guaranteed mail delivery service. But by coming in at number one in the reputation index, Australia Post has outperformed some of Australia’s biggest and most successful companies and multinationals.
Back in the early 1990s, the doomsayers were warning that email and the Internet would chew away at its core business, that nifty express operators with inexpensive tailored distribution networks would target areas not protected by monopoly guarantee. Volumes would shrink, the best parts of the business would be delivered into the hands of competitors and post offices would shut down.
Instead, the reverse has happened. Since its corporatisation in 1989, Australia Post has increased its pre-tax profits six-fold to $391.9 million in 1999/00. Another increase is expected when it reports its annual profit this week. In 1990, its proportion of wages to revenue was 67 per cent. It is now 44 per cent.
Read MoreAustralia Posts monopoly strengthened
The postal industry’s push for greater competition took a step backwards yesterday when the Labor Party, with only partial objection from the Coalition, promised to expand the governmental functions of Australia Post. The Opposition’s spokeswoman for regional services, Senator Sue Mackay, indicated the postal market would be unlikely to open up under a Labor Government, signing a pledge at a Hobart post office against any deregulation of Australia Post.
Read MoreAustralian Post Office goes digital
Looking for a digital signature? For authentication, try your local post office. On Monday, Esign Australia and Australia Post launched a Gatekeeper Accredited Registration Authority Service.
Through its KeyPost service, Australia Post now provides registration authority services on behalf of Esign and under Esign’s full Gatekeeper accreditation.
It’s just like applying for a passport, Australia Post says. To apply for a digital certificate, applicants can download and complete the forms available on eSign’s Web site, at http://gatekeeper.esign.com.au .
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