Annual Report and Accounts published
Our Annual Report and Accounts for the 2020-21 financial year has now been published.
It shows trading profit reduced to £35 million, principally due to the impact of the Covid-19 pandemic. The primary impact was on business banking and travel; however, a strong Mails performance helped to partially offset the impact.
It also makes provision for potential redress due to previous policies and processes including our policy on suspension remuneration (which has subsequently changed), which we talked about in a previous Postmaster email. We will contact eligible Postmasters about this as quickly as possible.