Canada's largest mail carrier says it booked a loss of $327-million in 2011 after 16 consecutive years of annual profits.
The Canada Post Group of Companies says it was hit by a labour disruption, a decline in mail delivery volumes, pension obligations and a Supreme Court decision on pay equity.
Canada Post's revenues totalled $7.48-billion in 2011, up 0.8 per cent compared to $7.45-billion a year earlier.
Its operating profit, however slipped to a loss of $226-million, against an operating profit of $142-million in 2010.
The Crown Corporation says mail volumes fell 4.6 per cent in 2011, bringing the total decline over the last five years to 20 per cent.
Canada Post also contributed $510-million to its pension plan in 2011, including $219-million in special payments.
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