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Australia Post Flags First Annual Loss In 30 Years - Yahoo News

"We have been carefully managing the real decline in our letter volumes for the past seven years," he said. "But we have now reached a tipping point where we can no longer manage that decline, while also maintaining fitness our nationwide networks, service reliability and profitability." View gallery Australia's postal service is the nation's oldest, continuously operating organisation, cele Fahour called for reform of government regulations that apply to letters, including increasing the price of stamps and allowing a two-speed delivery service. He pointed to a government-commissioned report last year which predicted that Australia Post will lose Aus$12.1 billion from its letter business and Aus$6.6 billion overall in the next decade without reform. "This year we are forecasting a full-year loss for the first time. It is urgent we make changes this year to ensure we can continue to maintain a reliable, accessible postal service for all Australians," Fahour added. The Post Office Agents Association Limited, which represents the owners of licensed post offices and mail contractors, backed the call for changed to mail pricing be considered by parliament. But it also urged the company to diversify its business. "Ultimately, reform to the letters service is just stemming the bleeding -- Australia Post needs to focus on finding new customers and new revenue streams," it said. best site
More: http://news.yahoo.com/australia-post-flags-first-annual-loss-30-years-050308538--finance.html

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