Maltapost has reported a pre-tax profit of €1 million for the six months up to March 31, an increase of 27.5 per cent over the same period in the previous year.

The company said its turnover grew by 2.5 per cent to €11.3 million while costs were up by 1.4 per cent to €10.4 million.

The company said the negative impact on revenue and costs brought about by changed in the inter-operator fees set by the Universal Postal Union had been somewhat compensated by an increase in certain tariffs.

Traditional mail remained on the decline, but this was partly offset by an increase in business generated by e-commerce.

The company confirmed it will enter the insurance market once it is granted regulatory approval.

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