On 18 August, MaltaPost plc published its Interim Statement covering the period from 1 April 2011 to mid-August. During this period, MaltaPost reported that overall turnover figures are marginally higher compared to those in the corresponding last year. Meanwhile profitability on normal trading activity is in line with the comparative period. However, the postal operator revealed that the positive fluctuations from foreign exchange that enhanced revenue streams during the last financial year were not repeated during the period under review. In the meantime, constructive measures are in place to mitigate any future adverse fluctuations.
MaltaPost commented that it is continuing its efforts of increasing and enhancing the range of ancillary services, the benefits of which will materialise in the medium term. The company is also consolidating its re-branding exercise, the branch upgrading programme, as well as the expansion of further non-core activities.
In conclusion, the Directors stated that they remain confident that MaltaPost will deliver yet another satisfactory performance during the second half of the current financial year ending 30 September 2011 despite the challenging market conditions both locally and abroad.