Finance: The Postman Rings Profits

• Share

The U.S. Postal Service was once a classic example of the enterprise that could not make ends meet no matter how generous its means. But the Service, which has operated as an independent Government business since 1971, is learning how to hold down costs. Thanks in part to automation and lower inflation, the Postal Service said it expects to report a $400 million profit for the fiscal year ending in September, compared with a net loss of $251 million in the previous twelve months. Consumers can look forward to one very tangible benefit: the current 22 cents cost of mailing a letter, in place since last year, is not expected to change until at least 1988.