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Tech-bitten but happy, Australia Post

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Preeti
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SYDNEY, AUSTRALIA: Australia's love of online shopping has helped Australia Post deliver a 17 per cent jump in annual profit, buoyed by a technology once thought to spell the death knell for post offices.

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Online sales have been a bright spot in an otherwise lacklustre Australian retail environment, with a local bank estimating Internet-based sales in the year to July 2012 rose 30 per cent to $14.4 billion (A$14 billion).

Australia Post reported an overall net profit of A$281 million, and said its parcel division was running at peak levels throughout the year, a trend previously only seen during the hectic Christmas period.

Its traditional mail business, however, has been hit by the rise of Internet email and other electronic communications, posting a loss of A$148 million.

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