MaltaPost registered a pre-tax profit of €3.38m in the year to the end of September, up from €2.74m last year, representing an increase of 23.6%. Earnings per share stood at €0.06c (2014: €0.05).

MaltaPost said turnover increased by 8.4% to €25.71m (2014: €23.72m). This growth was mainly attributed to an increase in volume of international mail services, registered mail and the parcel and packets activity. Revenue from ancillary services also registered a healthy increase.

Expenses rose by 6.2% to €22.50m (2014: €21.19m) mainly as a result of higher cross-border charges and inflationary pressures on cost.
 
The company said it will continue implementing its strategy of generating revenue in new areas so as to mitigate the impact of the global trend in declining letter volumes.

"By extending the reach of our core services and products and driving further efficiency improvements, we aim to improve our customers’ experience by offering them cost-effective products and services while ensuring a sustainable
satisfactory return to all our stakeholders," Maltapost said.

"As e-commerce continues to drive growth in the parcel and packets business, we will continue to apply our assets and skills more effectively to provide solutions that our customers expect and be leaders in this highly competitive sector."

The company warned that the decline in traditional letter mail threatens the economics of the universal service provision.

"To fulfill such obligations in a commercially viable manner without compromising on service levels, we encourage a regulatory model that effectively supports the future sustainability of the Universal Service." said.

The directors have recommended the payment of final ordinary net dividend of 4 0.04 per nominal € 0.25 share. Shareholders will have the option of receiving the dividend either in cash or by the issue of new shares.