Canada Post reports $62-million loss before tax in third quarter

Despite loss in traditionally soft quarter, Canada Post anticipates profitable 2017 largely due to parcel growth

OTTAWA, Nov. 24, 2017 /CNW/ – The Canada Post segment lost $62 million before tax in the third quarter, traditionally the postal service’s slowest period of the year. Year-to-date, the Canada Post segment is reporting a profit of $13 million before tax heading into the holiday season when millions of Canadians are expected to make an unprecedented number of purchases online. Continue reading

Canada Post reports a profit before tax in 2016 of $55 million after solid growth in parcels

OTTAWA – Canada Post’s commitment to help Canadian businesses grow through e-commerce led to strong growth in the Parcels line of business in 2016. By partnering with retailers to deliver innovative and convenient delivery, shipping and returns experiences to Canadians, the Canada Post segment solidified its position as Canada’s No. 1 parcel company. The Canada Post segment’s profit before tax of $55 million compares to a profit before tax of $63 million in 2015. Continue reading

Canada Post welcomes Lunar New Year with stamp issue

OTTAWA – Canada Post will greet the Year of the Rooster with a two-stamp issue, the ninth in its most recent series honouring the Lunar New Year.

A Permanent™ domestic-rate stamp featuring a rooster image, with its chest proudly puffed out, is paired with an international-rate stamp offering a close-cropped profile view of the rooster’s stately face. Both images are created from lines of gold foil. Continue reading

Canada Post contracts ratified by union members

After six weeks of local membership meetings, the members in both the Rural and Suburban Mail Carriers (RSMC) and the Urban Postal Operations (UPO) bargaining units have ratified their tentative collective agreements reached with Canada Post on September 1st.

The unaudited results show adoption of the RSMC contract by 55% of those voting. The number of members voting in 2016 exceeded the turnout in 2012.

The UPO contract was adopted by almost 63% of the Urban members participating. Continue reading

Canada Post segment records $60 million loss before tax in third quarter, blames workers

From Canada Post:

OTTAWA – The Canada Post segment lost $60 million before tax in the third quarter, when the risk of a work disruption prompted commercial customers to make other arrangements to deliver their parcels and mail.

The net financial impact of the labour uncertainty is estimated at $100 million for the third quarter. That figure reflects the significant reduction in revenue but also includes slightly lower costs, such as less use of overtime and temporary employees, because volumes had declined sharply in all lines of business. The Corporation and the Canadian Union of Postal Workers reached tentative agreements on August 30, 2016, but volumes took much longer to recover. Employee benefit expenses were also lower in the third quarter due to a $44-million non-cash one-time gain, resulting from the new collective agreement with the Canadian Postmasters and Assistants Association (CPAA) in August 2016. Continue reading