Australia Post to spend $2 bn to ‘‘future ready" itself

In a bid to ensure it continued to meet the demands of its community obligations, Australia Post has announced a $2 billion ''future ready" programme, on the heels of reporting a 17-per cent profit increase for 2011-12.

It will spend the $2 billion to enhance its infrastructure and product and services "in support of the digital economy".

The corporation said in a statement, "The investment will create a world class parcel delivery network that will improve automation and expand Australia Post's footprint across Australia, deliver convenience and choice in parcel delivery for both consumers and business, expand our network of retail superstores across the country and make available a secure, free, personalised Australia Post Digital MailBox to every Australian."

According to chief executive Ahmed Fahour,  Australia Post's strong profit growth had enabled it to invest over $2 billion in upgrading its national parcel network and providing every Australian with a free digital mail box.

He added, without the investment, it could not sustain the enormous demand for parcel services and continue the high level of service and reliability it had always delivered to Australians.

Fahour said Australia Post was anticipating a busier than ever Christmas and had therefore implemented a plan to cope with the increase in mail volumes, which included delivering parcels on weekends during November and December and extending opening hours for parcel collections and retail outlets.