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Post Office's year of 'immense pressure'

Isle of Man Post Office is flagging up challenges ahead, after announcing yearly profits of almost £2.5m.

The organisation says 50 per cent of profits made in the financial year 2010 to 2011 will be returned to the Isle of Man Treasury as a levy.

Chief executive officer Mike Kelly says increased competition put the Post Office under 'immense pressure' in the period under review.

He says the business faces key challenges with the continuing decline in physical mail, an ageing customer base and increased competition.

It was a turbulent year for Isle of Man Post, with workers threatening industrial action after a government pay freeze within the public sector.

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