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The Canada Post segment is reporting a 2017 profit before tax of $74 million, largely due to unprecedented growth in its parcels business. Most of the Parcels revenue growth of $393 million was from domestic shipments, which speaks to the important role Canada Post plays delivering for online shoppers and retailers across the country.
In 2017, for the first time, the Canada Post segment exceeded $2 billion in Parcels revenue. It has grown annual Parcels revenue by over $900 million since 2011, the year the Corporation pivoted to focus on e‑commerce. By adapting to the evolving needs of Canadians, who use the postal service less for mail and more for e‑commerce delivery, Canada Post became and remains the country’s No.1 parcel company.
The decline of Lettermail remains a significant challenge. Canadians mailed two billion (41 per cent) fewer pieces of Domestic Lettermail in 2017 than they did in 2006, the year that mail volumes peaked.