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.
Read MoreA tiny Australian outfit called Planetwide has launched a service to make it easier for travelers gallivanting around exotic locales to access their regular mail.
The start-up recently got two services off the ground — ScanMe, an electronic mail forwarding offering, and FollowMe, a traditional mail-forwarding service.
Read MoreThere 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.
Read MoreLetter 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¢.
Read MoreThe nation’s postal service is the most reliable and one of the cheapest in the world, according to Australia Post’s annual report.
The report, tabled in federal parliament today, showed Australia Post’s on-time letter delivery reached an all time high of 96.5% in the 2002/2003 financial year.
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