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Jersey Post to pay £691k dividend to the States

Jersey Post to pay £691k dividend to the States

Friday 06 July 2018

Jersey Post to pay £691k dividend to the States

Friday 06 July 2018


Jersey Post will pay a £691,000 dividend to the States this year after its gross profits rose by 20% to their highest level since 2009 in 2017, their latest Financial Statements have revealed.

Jersey Post has managed to offset the 5% decline in traditional mail volumes by increasing market share in the rapidly growing parcel business, which has been growing by over 5% per year.

Jersey Post's strategic report noted: "What was pleasing to see towards the end of the year was a significant upturn in our parcel business that, in revenue terms, begins to offset the continued decline in traditional mail in Jersey.

"This change in emphasis is illustrated by us winning the collection and delivery of blood samples. It is perhaps somewhat surprising to many that it was also Jersey Post’s digital capabilities that provided the platform on which the recent public-sector contract changes were managed and distributed."

Alan Merry, Chairman, said: “In my first year as Chairman, I am delighted to see continued improvement in results from a strategy that was implemented in 2016. The potential growth for our international business is hugely exciting, as is the development of our digital services which has evolved into a key, profitable business area.

"These results would not have been achieved without realigning the skills and strengths of the executive team to provide the required level of support and governance to the organisation at an exciting and vital time in its business growth. I am confident that this approach will ensure Jersey Post is in a strong position to tackle, and overcome, the challenges and opportunities that the business will face in the coming years."

Tim Brown, Chief Executive of Jersey Post, added: “Whilst we are very positive about our future, thanks to the growth in international markets and the potential for e-commerce and digital services locally, we remain focused on the importance of meeting our obligations to the Island. We continue to make significant investments in systems and processes in Jersey to deliver a first class and ultra- modern postal service for islanders. As ever in doing so we continue to rely on the professionalism of our staff.

Jersey Post

Pictured: Women make up 20.5% of Jersey Post workforce.

The report also revealed that only 20.5% of Jersey Post workforce is made up of women. The number has slightly increased, by one percentage point more, since 2016.  Jersey Post said they offer set salaries and wages for certain types of jobs, but the mix of jobs means that on average their male employees are paid 1.95% more than female employees. In 2016, female employees were paid 0.4% more than male employees.

At management levels, including the Executive Directors, male employees are paid 7.84% more than female employees.

The company said it "continually reviews how it recruits, what contractual terms it offers and is committed to seeing a balanced workforce."

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