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AusPost lands record revenue, commits to delivering perishables long-term

(Source: Supplied)

Mail and logistics firm Australia Post delivered record revenue in FY21 driven by increase e-commerce growth in the retail sector, hitting $8.27 billion.

The group’s profit before tax spiked 87.7 per cent to $100.7 million after a disappointing result in FY20, while AP Global, Australia Post’s cross-border e-commerce business, saw revenue increase 90.6 per cent to $429 million.

And, as the business’ parcel and services segment revenue saw growth of 27 per cent, its mail delivery service fell 11.6 per cent.

“This strong result rests with the hard work of our people, who have continued to deliver everyday through the challenges of a pandemic and numerous lockdowns,” said Australia Post acting group chief executive Rodney Boys, who took over the role after the business ousted former-CEO and now-competitor Christine Holgate.

“The strength of e-commerce – up 31.8 per cent as Australians took to online shopping in record numbers – has supported the result, as did the temporary regulatory changes which allowed us to meet the significant parcel demand and ongoing mail delivery.”

Over the course of the year Australia Post invested $450 million in its delivery network, electric vehicles, and its processing facilities.

And, after a shock to food makers nationwide when the business said in April it would cease shipping perishable foods, the business backtracked, stating it is now committing long-term to this endeavor.

“We understand it’s critical for businesses to meet growing consumer demands for home delivered food and groceries, and Australia Post remains fully committed to supporting both our customers and consumers with the ongoing carriage of food through our network,” Boys said.

“We recognise and apologise for the uncertainty felt by some customers as this review took place. The transportation of food in Australia is complex and highly-regulated and we have moved as quickly as possible to provide a clear promise to our customers that there will be no change to how we support them.”

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