Isle of Man Post Office (IOMPO), the Island’s leading trusted delivery partner, has unveiled its strategic annual statutory board plan for 2024/25, aimed at driving sustainable growth, enhancing customer satisfaction, and expanding its market presence. The business has also reported a positive return on its financial performance for the last financial year.
The 2024/25 statutory plan along with IOMPO’s annual report and financial statements for the period ended 31 March 2024 will both be presented to Tynwald next month (November).
Stu Peters MHK, Chairman of Isle of Man Post Office, said: “Our plan reflects our commitment to our strategic goals, outlining our accomplishments during the past year and setting out the framework for what we plan to achieve moving forward. We are confident and enthusiastic about our direction of travel as we evolve our key commercial and strategic relationships with a keen focus on responding to the needs of our customers and stakeholders.”
He added: “The business has demonstrated robust financial performance over the past year, with significant growth in revenue and profitability, and this has been testament to everyone at IOMPO who has shown unwavering commitment, diligence and enthusiasm during an exceptionally busy year. However while we have reported a profit, the year has not been without significant challenges, most notably high inflation and the removal of the dedicated mail plane. It’s in this vein the Board remain cognisant of material challenges, such that the medium term looks uncertain, a situation which underpins the importance of seeing through on delivery of our strategic objectives.”
As part of our commitment to environmental stewardship, IOMPO has continued to take steps to reduce its carbon footprint. To name but a few, this has included the introduction of a fleet strategy, converting all lighting across the estate to LED and the removal of desk bins in favour of centralised recycling stations. IOMPO also adopted controls to ensure carbon emissions are considered as part of each change project and procurement. Concurrently, we have been upgrading the electrical infrastructure at POHQ to facilitate the installation of a solar panel array to maximise opportunities for renewable energy generation and to accommodate more charging points for our expanding electric vehicle fleet.
Isle of Man Post Office's Annual Plan can be viewed here.
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