Jersey post 2012 business income fell 32%

Jersey Post recently published 2012 annual report, the company business income fell 32%, to $44000000; pre tax profits halved, to 13000000 pounds.
The main reason lies in the "termination of business decline of cheap goods exempted from value-added tax" service. The service allows exporters based on Exemption of value-added tax, the value of the goods under 15 pounds to the UK inland, but the business in 2012 by the British government to cancel, e-commerce enterprises have withdrawn from the single jersey.
Jersey Post said, "termination of low-priced goods exempted from value-added tax" service caused bulk mail volume declined 28000000, amounting to 57%; logistics business volume drops compared to the same period 70%.
In addition, the Jersey post pension plans in 2012 a deficit of 5400000, this is also an important factor to affect the performance of the company. The total assets of the pension plan totalling 12700000 pound.
Jersey post take the positive measures, powerful, daily expenditure by 25%, equivalent to 1 years to save 4000000 pounds. Although the basic wages rose 4%, but the current labor cost is lower than in 2008 17%.
Jersey Post said, if the exclusion to repeal the "adverse effects of low price goods exempted from value-added tax" service and pension payments to bring company, Jersey post profitability is better.
MYEX Minya Express International
2013-08-05