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Post Office profits up

Isle of Man Post Office says its profits rose over the last year to £2.6 million, up on last year’s figure of £2.4 million.

The organisation says as well as paying 50 per cent of its profits into Treasury coffers, it’ll also pay an extra £2.5 million out of its reserves to help balance the Island’s budget.

Chairman of Isle of Man Post Office Geoff Corkish MHK says the amount of letters being sent by post has fallen every year for more than a decade.

But he says the Post Office’s diversification strategy is proving successful as it remains profitable.

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