Guernsey Post announces an operating profit of £1.4m for the last financial year which ended on 31st March 2020.
As a result of this, the Company has paid an ordinary dividend of £444k to its Shareholder, the States of Guernsey. In addition to the ordinary divided and in view of the Company’s strong balance sheet Guernsey Post will also be paying a further special dividend of £1m to the States of Guernsey.
Boley Smillie, Chief Executive of Guernsey Post said “We are pleased with our results over the last year which very much underlines how our team has continued to successfully adapt to the ongoing and significant changes in our industry. Whilst we continue to enjoy growth in our parcels business this only partly offsets the increases in charges from our partners and the continued decline of letter volumes”.
Boley added: “Whilst dealing with the consequences of COVID 19 has been at the forefront of our minds during the current year the pursuit of new growth opportunities is central to our plans for the future. The award of the lottery distribution contract and our new grocery delivery service, IsleDeliver, are clear examples of the way in which we will continue to diversify our business”.