The Canada Post segment reported a $55-million profit before tax in 2016, and solidified its position as Canada’s No. 1 parcel company. This was the segment’s third profitable year in a row.
Our 2016 results are a positive sign, but we still face significant challenges: declining mail volumes; sizeable pension obligations; comparatively high labour costs; and the need to invest in our network to keep up with growing parcel volumes. We believe these challenges can be solved.
We have grown our annual Parcels revenue by $521 million since 2011, when we decided to focus on helping Canadian businesses grow through e-commerce. Our growth strategy is working – for businesses, and for us. It’s why 2016 was a game-changing year. For example, we delivered one million or more parcels in a day 34 times. As well, during the holiday season, we shattered every parcel delivery record.