After what it has called a 'tough' period, Jersey Post has returned to profitability.
The company has reported its strongest financial performance in five years.
Revenue rose to almost £67 million last year, with a pre-tax profit of £2.3 million.
It will pay a dividend to the Government of Jersey, its shareholder, for the first time since 2021.
CEO Mark Siviter says 2025 was a 'turning point' and the business is 'stabilising'.
"That improvement came from three things, simplifying the business and focussing on what we do best, being far more disciplined on cost, and strong performance from our international operations despite a challenging environment."
Mr Siviter says challenges remain, with letter volumes continuing to decline. They have halved in the past decade, and fewer people are visiting Post Offices.
Publishing its annual report, Jersey Post says it will now begin a three-year investment programme to modernise its operations.
Mr Siviter said the money will go on "Better tools, technology and equipment, improving safety and efficiency."
The company says it exceeds the service targets set by the regulator (the JCRA), with local mail delivered within two days of despatch 98% of the time.
"96% of mail leaving Jersey was despatched within one day of being posted, whilst 96% of inbound mail was processed for delivery within one day of arriving at Rue des Pres (against targets of 90%).
Fort Regent vision 'was never matched' by a budget that could deliver it, says JHA
Buzzing! Bears and Bees coming to Jersey
JCG Year 7 Choir learn and perform wartime song
Gas bills to go up by 5% in December
Second memorial plaque vandalised at Millennium Park
'They got our hopes up': Young islanders disappointed as Fort Regent plans stall
Electricity prices in Jersey to rise by 2.5%
Minister says he has been 'slated' and his family taken 'abusive' phone-calls over economic growth comments
Comments
Add a comment