Business booms for Canada Post Group thanks to popularity of online shopping

The Canada Post Group of Companies reported a profit of $144 million for 2017, up from $81 million in 2016, as its parcel business grew with the popularity of online shopping.

The improved profit at the company which includes Canada Post, Purolator and SCI Group came as revenue from operations totalled nearly $8.23 billion in last year, up from $7.88 billion in 2016.

Canada Post has seen its parcels business grow significantly as shoppers opt for online retailers, offsetting a decline in the company’s traditional transaction mail business.

Get weekly money news

Get expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday.

Sign up for weekly money newsletter Sign Up

By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy.

The Canada Post segment earned $57 million, up from $46 million in the previous year.

1:19 Package stolen from Edmonton man’s front door 30 minutes after it was delivered

• Package stolen from Edmonton man’s front door 30 minutes after it was delivered
• Package stolen from front steps of Langley home
• Utah boy’s kidney meds stolen from family’s porch
• Christmas crime: Calgary woman has 5 packages swiped from doorstep
• ‘Prancing Thief’ caught on camera stealing little girl’s birthday present

Previous Video

Next Video

Parcels revenue at Canada Post increased to $2.13 billion, up from $1.74 billion, while transaction mail revenue fell to $2.91 billion compared with $3.04 billion a year earlier. Direct marketing revenue edged down to $1.12 billion compared with nearly $1.14 billion in 2016.

Meanwhile, the company’s Purolator business earned $88 million in 2017, up from $48 million, while its SCI Group logistics arm earned $15 million, the same as in 2016.