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Australia Post reports $200m annual loss, its first since 2015, amid push to close city branches

3 years ago by Mountaineer to c/australia

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Postal service also calls for stamp price increase as it warns its letters business lost $189.7m in first half of 2022-23
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Mountaineer 52 points 3 years ago

There's a perspective problem here.

Australia Post doesn't make profits and losses, it provides services - and services have costs, not losses.
Expecting Australia Post to:
A) Deliver packages of international origin for free
B) To unprofitable remote/rural areas C) AND turn a profit like a business whilst D) For profit courier companies undercut them on profitable metro areas...

Well it's not going to work long term.
And post offices are more than just places to drop off a package you want delivered, lots of people use them as their local bank branch for necessary in person tasks - especially in the a fore mentioned rural areas.

Long story short, Australia Post should not have been privatised - it's an essential service and essential services are natural monopolies.

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Zagorath 7 points 3 years ago

Long story short, Australia Post should not have been privatised

I don't believe it has been privatised, though?

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Mountaineer 2 points 3 years ago

technically correct

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makingStuffForFun 7 points 3 years ago

I agree. The same for the health service. It's not a for profit business (or should not be). It is a service, that we spend our taxes on, it costs money and doesn't expect a return, except for better health outcomes.

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SteveTech 4 points 3 years ago

Deliver packages of international origin for free

Minor nitpick but I don't believe that's correct, they're part of the universal postal union where they set prices for other post companies to send into Australia.

I'm no post enthusiast though, so it might not be correct, that's just my understanding.

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Mountaineer 2 points 3 years ago

You've taught me something: https://en.wikipedia.org/...

I can't find anywhere listing what we get in UPU fees for things coming into Australia from China, but I have recently ordered items for a few dollars which have not charged me for postage.

This is head torch, for 77c, that will be posted to me for free from China.
https://www.aliexpress.com/...

This page lists the cheapest domestic package I can send from the Adelaide CBD to another Adelaide CBD address:
https://auspost.com.au/...
$10.60

Something doesn't add up here.
The minimum cost of anything coming out of China should be the UPU, completely ignoring handling, packaging and the item itself.

So either Aliexpress/China is subsidizing sending crap over here, or Australia Post is not getting the fees.

edit: Page 111 of the annual report: https://auspost.com.au/...
shows in 2020, Australia Post had a $4.3M Foreign exchange loss (net).
Which is honestly WAY better than I was expecting.

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DogMuffins 3 points 3 years ago

It's a "self funded government business enterprise" which IMO means it's not private and it's still appropriate to say that it's turned a loss, given that the expectation is for it to be self-funded.

Post is an essential service but it's becoming less essential as time goes by. Perhaps it's essential that I have the capacity to receive letters, but I don't remember the last time I received a letter of any import.

Presently it's only a $200m loss or cost but the article discusses the forecast increases. I think it's natural and healthy to have a conversation about what service delivery can be altered to preserve benefits for the most people while reducing costs.

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