Canada Post has reported profits every year since 1996, with the exception of 2011 and 2013.
2011: Our public postal service reported a net loss of $188 million as a result of a lockout of CUPW members and two one-time events: 1) a special pay equity payment and 2) a special pension adjustment resulting from changes to the Pension Benefits Standard Act.
2013: Canada Post introduced new and revised accounting standards, which had a one-time impact of reducing net profits by $350 million, turning what would have been a $321 million net profit into a net loss of $29 million.
Canada Post and other bodies have a deplorable record when it comes to making predictions about the corporation’s financial viability, and 2016 was no exception:
|Canada Post Group:||Canada Post Segment:|
|Net profit – $81 million||Profit before tax – $55 million|
|Profit before tax $114-million||Profit from operations – $63 million|
|Profit from operations – $149 million|