Australia Post in pre-tax loss of $88.5 million as "snail mail" decline continues

The collapse in traditional mail deliveries is continuing with Australia Post reporting volumes in its letters business dropping to an all time low. Australia Post chief executive Paul Graham says letter volumes are back at levels last seen in the 1950s. The rapid decline in "snail mail" drove a full year loss of $88.5 million before tax for Australia Post though this is an improvement on a $200 million loss a year ago.