Canada Post lost $153-million in 2019

OTTAWA – Canada Post says it lost $153 million before tax last year as intense e-commerce competition slowed growth at its parcels business and an ongoing shift toward online communication prompted mail operation declines.

The Crown corporation says processing and delivering packages demands more technology, real estate, vehicles, and time interacting with customers than handling letters, a burden that weighs on profits as tech giants such as Amazon expand their reach.

Canada Post says the number of addresses receiving daily mail and parcel service climbed by 168,000 in 2019, but that residents and businesses increasingly chat, advertise, and do business digitally.

Parcels revenue climbed by $232 million last year, topping $2.7 billion to exceed revenue from letters, bills, and statements for the first time.