Maltapost's higher profit

Maltapost has reported pre-tax profit in excess of €3 million for the year ending September 30, 2009 despite the company's revenue dropping by 1.4 per cent over its previous one-year term.

The company reported revenue of €20.19 million, resulting in a profit that was 10 per cent up over last year.

The drop in revenue was due to lower volumes of domestic mail and lower sales of philately to enthusiasts.

This, however, was compensated by an increase in overseas mail. The company also managed to cut costs by 3.4 per cent to €17.3 million, following a review of its operational process.

A recent survey by the communications authority showed that 85 per cent of households and 69.8 per cent of small businesses were satisfied with the service it provided.