Maltapost revenue up, but profit slips

MaltaPost  said today that its revenue increased by 1.4% to €10.7m (2010: €10.6m) in the six months to the end of March, but its pre-tax profit slipped  by  9.3% to €1.7m (2010: €1.9m). Profit after tax decreased by 6.1% to €1.1m (2010: €1.2m).

The revenue growth was principally due to increases in international inbound and outbound mail traffic volumes. These were partially set-off by the continued downward trend of traditional mail volumes. Other non-postal revenue streams steadily increased over last year.

The company said it will remain sensitive to its role as the country’s key postal operator by providing traditional postal services to the community, irrespective of their financial viability. It said will continue with its branch upgrading programme, rebranding exercise and investment in expansion of further non-core activities.