May 6 (Reuters) - Canada Post
* Canada Post segment reports profit before tax in 2015 of
$63 million
* Canada Post - 2015 "Profit is modest in comparison to
corporation's revenue and significant challenges facing canadian
postal system"
* Canada Post - 2015 results reflect continued erosion of
transaction mail volumes, improved earnings due to strategic
initiatives, increase in employee benefit costs
* Canada Post - $131-million decline in 2015 profit before
tax was mainly due to Canadians' ongoing migration away from
paper bills
* Canada Post - Earnings included about $390 million in 2015
due to transformational initiatives taken in response to
Canadians' changing use of postal services
* Canada Post - Profit before tax of $63 million for Canada
Post segment in 2015, compared to a profit before tax of $194
million in 2014
* Canada Post - Challenges include declining mail volumes,
increasing addresses to serve, significant pension
obligations,need to invest in infrastructure
* Canada Post - Decline in 2015 transaction mail volumes of
more than 6 per cent represents a revenue shortfall of $207
million
* Canada Post - Canada Post Corporation registered pension
plan had a solvency deficit to be funded estimated at $6.2
billion as at december 31, 2015
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