Revised tariffs for standard local mail will come into force as from April this year and are set to contribute positively to the sustainability of the Universal Service., MaltaPost said this morning.
In a company announcement on the Malta Stock Exchange, MaltaPost said that during the financial period commencing on 1 October 2012 up to the date of this Announcement, no material events and/or transactions have taken place that would have an impact on the financial position of the Company such that they would require specific mention, disclosure or announcement pursuant to the applicable Listing Rule other than that announced on the 9 November 2012.
Business transacted during this period is on the same pattern of the corresponding period last year. In line with industry trends traditional letter mail volumes continue to decline. The changes in cross border mail tariffs that became effective as of 2012 contributed to a decrease in Turnover. This was however partly mitigated by increases in the local tariff which became effective in November 2012, while, on-line retailing continues to impact positively on the parcel volumes.
The overall profitability of the Company for the period under review has improved over that registered in the corresponding period last year.
In November 2012 Malta Communications Authority established a price control mechanism which seeks to ensure that postal tariffs are fair and in line with market realities, while also ensuring that MaltaPost maintains high service levels. Revised tariffs for standard local mail will come into force as from April this year and are set to contribute positively to the sustainability of the Universal Service.
Following the necessary amendments to the Company’s Memorandum of Association aimed at enabling the Company to enter into the insurance market the Company submitted its application to MFSA so as to act as agent of Middlesea Insurance p.l.c.
The Company has also registered progress with regard to its back-office and corporate services activities. Premises have been secured in Gozo and in the coming months higher levels of activity are expected.
The Company shall continue to focus its resources on ensuring that a strategic approach is maintained so as to raise efficiencies and service levels as well as increasing profitability,