The Isle of Man Post Office has reported a profit of £2.58million it its annual statutory board plan for 2024/25.
The profit is a £2.04million increase in the prior period of £540,000.
The increase in headline turnover from £24.2million to £25.4million, relates substantially to a £1.3million increase from its core Mails division.
Its strategic annual statutory board plan for 2024/25, aimed at driving sustainable growth, enhancing customer satisfaction, and expanding its market presence.
Profit Plan
The 2024/25 statutory plan along with its annual report and financial statements for the period ended March 31, 2024 will both be presented to Tynwald next month.
Stu Peters MHK, Chairman of Isle of Man Post Office, said: “Our plan reflects our commitment to our strategic goals, outlining our accomplishments during the past year and setting out the framework for what we plan to achieve moving forward.
“We are confident and enthusiastic about our direction of travel as we evolve our key commercial and strategic relationships with a keen focus on responding to the needs of our customers and stakeholders.”
Carbon Footprint
As part of its commitment to environmental stewardship, the Post Office has continued to take steps to reduce its carbon footprint.
This has included the introduction of a fleet strategy, converting all lighting across the estate to LED and the removal of desk bins in favour of centralised recycling stations.
It has also adopted controls to ensure carbon emissions are considered as part of each change project and procurement.
It has also been upgrading the electrical infrastructure at POHQ to facilitate the installation of a solar panel array to maximise opportunities for renewable energy generation and to accommodate more charging points for its expanding electric vehicle fleet.
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