Business loss improvement for Guernsey Post - report

Guernsey Post said its business loss has improved this year compared to 2023

Guernsey Post Limited had an operating loss of £1.1m for the year ended 31 March 2024, a report says.

The annual report from Guernsey Post said this was an improvement compared to a prior year business loss of £2.3m in 2023.

Chairman Rick Denton said the company was still feeling the impact of "high inflation" and rising costs.

However, he added the company had showcased "resilience and adaptability" this year despite the challenges.

'Reliability and trustworthiness'

"Over the past year, we have contended with the effects of continually high rates of inflation and increased costs, which have placed considerable pressure on our operating margins," said Mr Denton.

"This year alone, the costs associated with transporting mail between the UK and the bailiwick have increased by nearly £400,000.

"This year has showcased our resilience and adaptability as we navigated the complexities of a challenging postal landscape and the continued escalating cost pressures driven by the wider macroeconomic factors beyond our control."

He said that, despite the challenges, Guernsey Post had remained "steadfast" in its plan and its "commitment to deliver high-quality services".

Mr Denton added: "We have focused on leveraging our strengths, including our extensive local presence and our reputation for reliability and trustworthiness."