Isle Of Man / Ellan Vannin

Challenges ahead for Isle of Man Post office

Isle of Man Post Office has flagged up challenges ahead after announcing yearly profits of almost £2.5m.

The organisation said 50% of profits made between 2010-2011 will be returned to the Isle of Man Treasury as a levy.

It has been a turbulent year for the company with workers threatening industrial action after a government pay freeze within the public sector.

Chief Executive Officer Mike Kelly said increased competition had put the Post Office under "immense pressure".

He added the business faced key challenges with the continuing decline in physical mail, an ageing customer base and increased competition.

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