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Letters/non-letters service

2019

Letters1

Non-Letters

Total

$m

%

$m

%

$m

%

Revenue2

2,216.3

31.7%

4,765.3

68.3%

6,981.6

100.0%

Expenditure2

2,408.0

34.8%

4,506.5

65.2%

6,914.5

100.0%

Profit/(Loss) before interest and income tax expense

(191.7)

(285.7%)

258.8

385.7%

67.1

100.0%

Net interest

(26.0)

Profit before tax

41.1

Income tax benefit/(expense)

(0.5)

Net profit for the year

40.6

2018

Letters1

Non-Letters

Total

$m

%

$m

%

$m

%

Revenue2

2,433.7

35.5%

4,424.7

64.5%

6,858.4

100.0%

Expenditure2

2,450.6

36.5%

4,268.7

63.5%

6,719.3

100.0%

Profit/(Loss) before interest and income tax expense

(16.9)

(12.1%)

156.0

112.1%

139.1

100.0%

Net interest

(13.4)

Profit before tax

125.7

Income tax benefit/(expense)

8.5

Net profit for the year

134.2


1 Letters includes reserved letters (Revenue $1.8 billion (2018: $2.0 billion) and loss before interest and income tax expense of $39.1 million (2018: profit before interest and income tax of $158.1 million)), non-reserved letters (including unaddressed mail), international letters and small packets (i.e. packets less than 2kg).

2 Current year revenue and expenditure allocation reflects the new organisational structure effective 1 July 2018. Prior year revenue and expenditure have been restated to be presented on a consistent basis.