MaltaPost makes €3.2m pre-tax profit

MaltaPost has reported a pre-tax profit of €3.2 million for the year ending September 30, up slightly from the profit of €3.18 million made in the previous year. The company said its performance was the result of increased cross border mail and higher...

MaltaPost has reported a pre-tax profit of €3.2 million for the year ending September 30, up slightly from the profit of €3.18 million made in the previous year.

The company said its performance was the result of increased cross border mail and higher philatelic sales, which compensated for lower volumes of traditional mail.

Revenue increased by 1.0% from €20.2 million to €20.4 million.

Re-engineering of processes yielded cost savings so that, even though labour costs were higher, overall costs were capped at €17.5 million (2009: €17.3 million).

The Board of Directors is proposing a final net dividend of 4c per 25c share. The annual general meeting will be held at the end of this month.

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