Red-Letter Day for AusPost as Big Rivals Dog Deliveries

Posties are delivering billions of parcels and fewer letters, but Australia Post is determined to deliver for another 200-plus years. A “two-speed” business resulted in AusPost declaring another annual loss on Aug. 30, as revenue from parcels continued to grow with more than 2.5 billion delivered each year, while letter deliveries fell to 1950s levels. The loss of $88.5 million (US$60.2 million) for the 12 months to June 30 followed a $200.3 million (US$136.2 million) deficit a year earlier. But chief executive Paul Graham said it was a “solid result” against stiff competition from large, well-funded foreign multi-nationals and other private operators. “There’s an incredibly aggressive and competitive market out there—companies like Amazon are spending billions and billions of dollars to compete,” Graham told AAP....