Operating profit on annual turnover of £37.7m rose by 5.5% to £1.276m before pension charges and taxation. The company has reported increased profits despite the continued decline in its traditional letter mail operations, which has been mitigated by a rapid increase in parcel and packet volumes as consumers continue to migrate towards shopping online.
The company has also recorded improvement across the board in its customer satisfaction survey, with over 5,000 islanders giving feedback on Jersey Post’s service in the annual island-wide survey. This showed an increase in all of the key approval rankings for postal workers, the overall service customers received, and the Jersey Post network.
During 2015 the business has invested over £3m in improving customer environments, and introducing new technology and infrastructure that will future proof operations as Jersey Post confronts a number of major operational challenges, including: providing customers with an excellent service at a reasonable price; ensuring that frontline services are adaptable to changing demands and requirements of customers; improving efficiency to cope with the changing mix of traffic; and investing in new profit streams as traditional core business declines.
Jurat Mike Liston OBE, Chairman of Jersey Post, said ‘2015 has been a year of consolidating our performance and making considerable investment in our services and infrastructure to meet the present and future needs of our customers. This year’s results confirm the robustness of our rapid recovery from the sudden loss of Jersey’s fulfilment industry and demonstrate that we are right to be confident in Jersey Post’s future. We continue to invest in the business and to seek profitable income streams through our network of international partnerships.’
Tim Brown, Chief Executive Officer commented, ‘We continue to focus on efficiency and our core objective of delivering a high quality postal service for a reasonable price. We have experienced dramatic change in our business environment and the customer culture, but we believe that we have laid the right foundations to build a modern, sustainable business for many years to come.’
With 2016 set to be one of the most challenging years yet for traditional postal services, and with the future of Jersey’s logistics industry still uncertain, Jersey Post is introducing new products and services, and developing income streams off-Island, to meet its longer term business strategy to modernize the business and make it more relevant for customers.
The 2015 Annual Report and Accounts is available at www.jerseypost.com/annualreport
Source: Jersey Post