Guernsey Post chief executive Boley Smillie.

GUERNSEY POST lost £900,000 last year and more jobs will have to be cut to make savings in the coming months.

But in the utility’s annual report today, chief executive Boley Smillie said the overall financial position was healthy and there was a clear strategy in place for a return to profit.

He said Guernsey Post had had a difficult 12 months with higher charges from Royal Mail, the first decline in bulk mail volumes for 20 years and the increased cost of providing for its pension scheme all contributing to the loss.

Mr Smillie said more job cuts were inevitable. ‘In September or October we will be looking to start the next phase of our voluntary redundancy scheme. But any redundancy will be voluntary or through natural wastage,’ he said.

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