Postal Administration president Deputy Patrick Ryan said that the results reflected an excellent year as the company took advantage of the growing fulfilment industry and rises in the price of stamps.
He revealed that the managers earned bonuses of between 17 and 26 per cent of their salaries, but declined to name the staff or say more about the company’s performance until they had officially released their accounts.
But following a Freedom of Information request made by the JEP, Jersey Post revealed that the members eligible for the bonus scheme were chief executive officer John Pinel, finance director Ian Ridgway, human resources director Teresa Lamy, business development and sales director Serge Le Moeligou, marketing and fulfilment director Bob Jones and mail services director Ian Carr.
Deputy Ryan said that top managers at Jersey Post were on an incentive-based pay scheme, with relatively low basic salaries boosted by profit-related bonuses.
But he added that it was not clear whether the profits from Jersey Post would go back to the States, or whether they would be pulled into the large pension deficit that must be cleared when the company incorporates.