Jersey Post’s most recent annual report revealed its turnover for the year, a decline in the posting of letters, and a rise in its CEO’s remuneration package…
Turnover
Jersey Post made a turnover of £81.6 million – 2% lower than the year before.
“Clear and irreversible” fall in letter posting
10% – the percentage by which letters posted in Jersey dropped.
22% – a significant drop in the amount of UK letters posted.
Jersey Post CEO Mark Siviter said: “Jersey Post continues to experience the same structural decline in letter volumes as other industrialised economies as digital media replaces statements, direct mail, and social correspondence, with businesses and government continuing their switch to access via digital platforms.
“This trend is clear and irreversible.”
The cost of sending a letter locally and to the UK was frozen for two years but price increases took effect in January this year which Jersey Post said were needed to ensure that the postal service remained “viable”.
Remuneration
Mr Siviter saw his remuneration package increase to £396,000 in 2024 from £377,000 the year before.
The 2024 figure included a £271,000 salary and £120,000 bonus, according to the report.
Profit and loss
The report also shows the company made a £2.1m loss before taxation in 2024 compared to a loss of £100,000 in 2023.
But Jersey Post cautioned that when “exceptional” and “one-off” items were excluded, the underlying performance of the business “improved year on year”.
Factoring this in, the underlying profit – before tax – was £700,000, compared to an almost £1m loss in 2023.
Re-valuation of property portfolio
Net assets also increased by £5.8m to £20.9m following an independent re-valuation of the company’s property portfolio.
Other stats
Jersey Post employed more than 560 people in the Channel Islands and the UK in 2024, with 360 of these in Jersey.
£150,000 was the total raised by Jersey Post for charity since 2013, with 2025’s charity of the year Jersey Hospice Care.
£14.13 an hour is Jersey’s 2025 living wage, which Jersey Post pays its employees.
Need more stats?
The full report can be found here.