CEO insists Australia Post has ‘positive business platform’ despite grim loss

Australia Post’s revenue dropped by $4.69 billion in the first half of the financial year.

Australian households are on track to receive less than one letter a week by the end of the decade and Australia Post has blamed the death of the letter for its grim loss.

The postal service is on track for its first full-year loss since 2015 and group profits before tax have plummeted 88.2 per cent from $199.8 million to $23.6 million in the first six months of the financial year.

But CEO of Australia Post, Paul Graham, insists there’s a future for Australia Post in parcels.

“Picking up parcels or lodging parcels … those parts of our business continue to be quite buoyant,” he told Ross and Russel.

Press PLAY below to hear where Mr Graham sees Australia Post’s future

“We’ve got an overall positive business platform. We just need to ensure that we’re given the ability to continue investing in the growth path of our business.”