JERSEY Post saw a return to profit in 2025 after weathering three years of consecutive losses.
The company’s latest annual report and accounts documented a profit before tax of £2.3m.
This marks a notable turnaround from the £2.1m loss seen in 2024, which had followed losses of £101,000 and £6.6m in 2023 and 2022 respectively.
In his chairman’s statement, Kevin Keen described 2025 as “another year of significant progress”.
“We completed the restructuring of the group with the disposal of Woodside Logistics, reduced costs and restored profitability,” he continued.
“A good achievement, but the board and management agree that there is a lot more to do.”
Mr Keen noted the continued fall in letter volumes, which has halved in the past ten years, something he said showed “the level of change the group has been through”.
But he also stated: “Revenue for continuing operations increased to £54 million in the year, up £8.5 million (18%) on 2024 on a like-for-like basis, mainly due to a good performance in the international business.
“The core postal operation increased turnover by 6%.”
In his strategic report, Jersey Post chief executive Mark Siviter pointed to several driving factors behind the company’s improved financial performance, including efforts to simplify its business structure.
“Over the last three years Jersey Post Group has exited those markets offering poor returns, selling businesses in the USA, Australia and Hong Kong, while divesting our Jersey-based digital identity business and Channel Islands shipping company to local owners,” he stated.
“The result is a smaller, simpler sustainable business focused on delivering affordable, high-quality services to our customers.”
Mr Siviter also highlighted strengthened spending controls, as well as a focus on “better aligning of prices to costs”, particularly in the wake of high inflation in 2024.
“Stamp prices were increased for the first time in two years, and commercial client contracts have been renewed with rates aligned to the profile of business received,” he wrote.
Speaking to the JEP, Mr Siviter acknowledged that “this isn’t a home run yet” but said that he was “really proud of the team”, citing “the hard work of people on the shop floor and the team here in the back office”.
He said: “Volumes were up, and while we don’t manage demand, [with] the algorithm that works with Amazon, what actually happens is that if you deliver good quality service, it drives demand.
“Demand goes up, we get more volume for Amazon and we had a good year with our contracts.”
He added: “We kept costs under control, driving efficiencies through the business, including a reduction in overheads.”
Jersey Post is this year starting a three-year £4m investment programme aimed at improving customer service and efficiency while further reducing operating costs.
Mr Siviter explained that this would involve improvements with both physical infrastructure – such as new vehicles and equipment – as well as digital infrastructure.
“We need to make sure that all of our data is in one place and then we need to use that data in a way that helps us to be smarter in the way that we deliver services. What are customers going to see? They’re going to see an app, they’re going to see multi-channel, they’re going to see new services.
“The reality of it is our creaking IT infrastructure has held us back from being able to provide new products.”
