Canada Post reported a $748m pre-tax loss in 2023, warning of potential insolvency within a year.
Canada Post reported a $748m pre-tax loss in 2023, warning of a critical financial situation that could see it running out of operating funds in less than a year. The Crown corporation predicts larger, unsustainable losses without significant changes to its business model, with revenue down 3.3% to $6.9bn. Canada Post has lost $3bn since 2018, with its market share in parcel delivery eroding from 62% pre-pandemic to 29%.
May 03, 2024
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