Annual Report
Guernsey Post reports a loss but is confident about the future
Guernsey Post is reporting an operating loss for 2010/11, having taken firm and prompt action to ensure that it was not worse. The company’s underlying performance improved, however, and there is a clear strategy in place to return to profit.
Guernsey Post made an operating loss of £0.9m in 2010/11 as a result of higher charges from Royal Mail, the first decline in bulk mail volumes for twenty years and the increased cost of £0.6m for providing its defined benefit pension scheme under accounting rules.
- What next?
- You can read more of this press release
- You can read the full Annual Report (year ending 31 March 2011)