Post and electricity profits down

Tuesday 13 November 2018

Guernsey Post and Guernsey Electricity have released their annual reports with both reporting falls in profit year on year.

Guernsey Post said it will give the States a dividend of £600K after 2017 delivered an operating profit of £1,269,000 for the financial year ended 31st March, 2018.

That's down from £2,301,000 during the previous year.

Despite the reduction, Guernsey Post said it is the company's "second best operating profit performance in over a decade." 

The amount of mail delivered by Guernsey Post is also down - 11% less than the year before.

The Guernsey Post annual report and accounts can be read here. 

Guernsey Electricity also reported a decrease in profits in its annual report and accounts, with a an operating profit of £1.2m during the year ending March 2018, compared to £4.1m the year before.

The utility firm has said it will have to look at customer tariffs as a result. 

The Guernsey Electricity annual reports and accounts can be read here.