MaltaPost plc - Interim Directors’ Statement

On 22 August, MaltaPost plc published its Interim Directors’ Statement covering the period from 1 April 2014 up to announcement date.

During this period, Maltapost registered an improved performance compared to the previous year, principally due to new service offerings, product enhancements and increases in certain tariffs. This offset the decline in traditional mail services. Meanwhile, the company’s expenses increased, underpinned by additional staffing costs, cross-border mail delivery costs and inflationary pressures. Notwithstanding, the company remains committed to contain its costs while enhancing efficiency levels.

In conclusion, the Directors noted that the business model employed by Maltapost allows the company to remain committed to maintain a sustainable Universal Service, while diversifying its business to take advantage of the various opportunities that the growth in e-commerce provides. The Directors are confident that the year-ending September 2014, the company will deliver an improved profit level when compared to last year.