Canada Post lost $269M in 2013 as mail volumes continue to fall

(Carmine Marinelli/QMI Agency)

(Carmine Marinelli/QMI Agency)

Jessica Hume, National Bureau

, Last Updated: 12:15 PM ET

OTTAWA — Canada Post lost $269 million in 2013 as its mail volumes continue to decline, according to figures released Monday.

Transaction mail — letters, bills, statements, all of which make up roughly half of Canada Post's revenue — has fallen 30% since 2007.

Canada Post recently hiked the price of postage stamps and announced it would end door-to-door delivery in favour of community mail boxes in an attempt to stem losses.

"These losses are driven by the historic shift from paper to digital communications," Canada Post said in a statement.

"This shift reduces Canada Post's revenue from transaction mail, while its cost base remains largely fixed."

The company's operating costs were offset slightly by gains made from the sale of corporate real estate. A Vancouver mail processing plant sold in January 2013 netted $109 million.

Though parcel revenue went up 7.2% from 2012, the company said it wasn't enough to "offset larger declines in transaction mail."


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