Parcel Business Drives Australia Post Profit

A general view of Australia Post mailboxes in Coogee on October 28, 2020 in Sydney, Australia. An investigation has been launched by Prime Minister Scott Morrison into Australia Post after revelations by chief executive Christine Holgate during Senate estimates last week that the government-owned business had bought four Cartier watches worth almost $20,000. Ryan Pierse/Getty Images

Australia Post has reported a before-tax full-year profit of $100.7 million amid strong growth in its parcel business during COVID-19.

Overall group revenue for the 2020/21 financial year was up 10.3 per cent to $8.27 billion, while the ‘parcels and services’ division realised 17.7 per cent growth.