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.