Pension change to triple Post profit
A £1M. increase in Guernsey Post's operating profit has been forecast following reform of the company's pension scheme.
Published
It announced an operating profit of £500,000 in its annual report for the year ending March 2016, which was an increase of around £200,000 on the previous year.
This week chief executive Boley Smillie said the company's annual profit was expected to treble in the coming year.
With a new contribution-based pension plan having been introduced in August, Mr Smillie attributed the projected profit increase to having a more 'sustainable' long-term arrangement.
'That difference is primarily driven by the change to a more affordable and sustainable pension scheme, which will give us more financial certainty in the future.'
