The Canada Post segment reported a profit before tax of $63 million in 2015.
Solid efforts by our employees to improve service and convenience for online shoppers and retailers led to record Parcels growth. This helped establish Canada Post as the largest parcel company in the country and contributed to a profit before tax of $63 million for the Canada Post segment in 2015. Since 2011, Parcels revenue has grown by $429 million.
Strategic initiatives we adopted in response to Canadians’ changing postal needs were also a major factor in the results. They contributed approximately $390 million to our earnings in 2015. A strategic pricing adjustment in 2014, more efficient delivery and improved productivity across the network all contributed.
The profit is modest compared to the Corporation’s revenue and the significant challenges we face as a company. These include the continuing decline in mail volumes, which fell by nearly a quarter billion pieces in 2015.