The preliminary results announced on Friday follow several profit warnings. The company suffered from a loss in consumer confidence during last year’s Royal Mail strike and decided not to go ahead with a potential takeover because of ‘difficult’ trading conditions.
The company say that increased costs from Jersey Post and the threat by the UK Treasury to reduce the £18 de minim-is on Low Value Consignment Relief have made it ‘increasingly important’ to build activities that do not rely on VAT exemption.
Chief executive Mark Dugdale said: ‘We have lobbied the Jersey postal regulator as well as the Jersey minister responsible for postal affairs, so far to no avail, and we shall continue this process.’
