Post windfall could help fund school

GUERNSEY Post's £5m. windfall to the States will help fund the rebuilding of La Mare de Carteret School or other potential capital projects, it has been revealed.

Treasury minister Deputy Gavin St Pier, pictured, was delighted that the utility was able to hand back that amount to the taxpayer shareholder after making a profit of £400,000 at the end of the financial year.

It follows a loss of just under £1m. the previous year.

'Clearly they've gone through a useful exercise of reviewing their capital and working capital needs,' he said.

'The fact they have identified that they are in a position to return capital is obviously welcome.'