Post Office Makes $1 Billion In 1996

The post office handled a record amount of mail in fiscal 1996 and earned a profit of $1.57 billion. “It’s been a wonderful year,” said Einar V. Dyhrkopp of the postal governing board.

Postmaster General Marvin Runyon, delivering final financial reports to the board of governors Tuesday, said: “This performance reinforces our commitment that there will be no general rate increase at least through 1997.”

While the rate increase to 32 cents for first-class mail that took effect in 1995 boosted income, mail volume has also gone up significantly, adding to the agency’s cash flow.