Canada Post has also warned that the company’s pension solvency deficit has risen dramatically. ( Andrew Vaughan / THE CANADIAN PRESS )As Canada Post’s biggest union prepares to launch limited job action Monday to press contract demands, the crown corporation has released its second-quarter results showing it managed to turn a small profit. The post office reported a $1-million profit before tax, for the three months ending on July 2, a much better showing than a year ago, when it had a $31-million loss. For the first half of the year, Canada Post had a before-tax profit of $45 million, compared to a loss of $7 million in the same period in 2015. Canada Post spokesman Jon Hamilton dismissed the suggestion that the post office was profitable, calling it a “break-even” quarter, boosted by 27 million pieces of mail for the census and increased parcel shipping.

Source: thestar August 26, 2016 17:33 UTC