Guernsey Post will pay additional £1m profits back into States' coffers

The island's postal service reported an operating profit of £1.4 million in the 2019/2020 financial year, which ended on 31 March. Credit: ITV Channel TV

Guernsey Post will pay an additional £1 million of their profits back into States' coffers, after a bumper year. It is on top of the usual dividend of £444,000.

The island's postal service reported an operating profit of £1.4 million in the 2019/2020 financial year, which ended on 31 March.

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 Smillie, Chief Executive of Guernsey Post

Earlier this week, it was announced Guernsey Post was expanding into food deliveries.

It has partnered with the Channel Islands Co-op to introduce online grocery shopping.

IsleDeliver will see refrigerated vans deliver orders within 24 hours.

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.

Boley Smillie, Chief Executive of Guernsey Post

Over the course of the last ten years, Guernsey Post has paid £20.8m to the States through dividends and share buy backs.

Guernsey Post has announced plans to close its main post office in St Peter Port at the end of its lease, relocating services to the branch inside the market.