Little-used Post seeks pricing flexibility
For Australia Post, adapting to the drift to digital mail and digital transactions means adopting a pricing policy that can only intensify the trend."Flexibility" in pricing - meaning an increase for select business users, in return for faster letter delivery - is one aim of Post CEO Ahmed Fahour. He outlined Post's latest strategic thinking at a media briefing in Melbourne yesterday.Post produced a superficial view of finances, with full reporting a month off.EBIT in Post's retail unit fell marginally to A$176 million in the year to June 2014, with the accelerating losses concentrated in the mail division, offset to some extent by the vibrant parcels unit.Demand for parcel deliveries will lead to more common Saturday deliveries, whileSaturday trading for Post shops will be extended in the build up to Christmas, Fahour said.Reduced foot traffic at Post shops contributed to a fall of 34 per cent in bill payments and a 23 per cent fall in banking transactions."Build and grow trusted services" is now Post's second strategic priority.Post held back data on this aspect of its affairs.