MaltaPost plc - Interim Directors’ Statement

On 17 August, MaltaPost plc published its Interim Directors’ Statement updating the market on its performance since 1 April. During the period under review, the postal operator continued to register volume growth in international mail, registered mail as well as parcel and packets. These remained the main contributors to the increase in the Company’s turnover compared to the corresponding period last year. Meanwhile, the declining letter mail volumes were mitigated by the upward revision of certain postal tariffs with effect from January 2014. The Directors also noted that the increases in direct mail costs and depreciation charge were offset by one-off write-backs of certain operational expenses.

In conclusion, the Directors noted the aim of the Company is to maintain a sustainable Universal Service whilst seeking to continue diversifying the Company’s business to embrace the various opportunities within the e-commerce market. Overall, the Directors are confident that the Company will register an improved profit for the year ending 30 September 2015 compared to the €1.8 million net profit registered in the financial year ended 30 September 2014. During the first half of the year, pre-tax profits grew by 105.1% to €2.5 million.