August 25, 2021
MailPac revenue for the year ended December 31, 2020, increased 42% to $1.73 billion (2019: $1.21 billion), while for the six months ended June 2021, revenue rose 23% to $896.06 million (2020: 730.85 million). The Company’s 2020-year end net profit increased by 53% to $443.08 million (2019: $289.42 million). Currently MailPac six months net profit increased year over year by 5% to $198.37 million, up from $189.74 million. “MailPac far exceeded the projections outlined in our company’s IPO prospectus just over a year before. It is our belief that higher demand for online shopping during the pandemic created a shift in consumer behavior,” stated Dr. Mark Gonzales, CEO of MailPac Group Limited.
Mr. Gonzales also noted that Mailpac made meaningful investments in 2020 which improved infrastructure and resources to manage significantly more volumes without additional spending. The CEO also noted MailPac is committed to becoming the Caribbean’s most customer-centric company connecting consumers to a global array of goods and services in the most efficient manner possible.
To achieve this long-term goal, Mr. Gonzales explained the company strategy plans, that is to build MailPac on three core pillars.
- ‘Value Enhancement’,
- Customer Acquisition’-Widen the customer acquisition by introducing more Caribbean nationals to the benefits of online shopping. This includes more targeted locations and marketing, delivering more accessibility solutions such as Mailpac Mastercard and Finance, targeted differentiated campaigns, and prices.
- ‘Acquisitional Growth’- This will provide economies of scale. “MailPac is again looking to leverage its proven technologies and strategies across other platforms and geographies. Accordingly, we are actively in dialog with an existing eCommerce platform, that we believe will flourish under the ownership and leadership of the MailPac Group.” Mr. Gonzales.
Furthermore, Mr. Gonzales stated, “for the Company to achieve these initiatives MailPac has started and will continue to invest in the long scale of the business.” As a result of the continued investment, the CEO noted, “MailPac is attracting more customers and creating more solutions”. This short-term acquisition and retention cost will parlay into long-term shareholder value.
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