IOMPO 2022/23 annual report says letter volumes still in decline
Digitisation remains both a threat and an opportunity to the Manx postal service.
That's the view of Isle of Man Post Office in its annual report for the upcoming year.
In the 28-page document, the organisation also states its core business is now competing for volatile commercial parcel traffic.
Furthermore, it adds letter volumes are continuing to decline as a result of 'digital substitution'.
IOMPO Chairman, Stu Peters, says the company is working hard to make sure services 'continue to be relevant, customer driven, embracing digital opportunities and working to mitigate the threats.'
The company made a profit of £1.53m in the financial year ending on 27 March this year.
Post office chief executive, Simon Kneen, says in the first quarter for 2022/23 post-pandemic peak traffic volumes have 'reduced and been volatile'.
The IOMPO 2022/23 annual plan will go before Tynwald in November.
You can read the full document HERE.