The Post Office spent £132m of taxpayers' money defending itself during the investigation into the wrongful conviction of hundreds of sub-postmasters, according to the latest available figures.
The revelation in the company's annual report comes after two and a half years of hearing evidence in the inquiry, which concluded this week.
The figure covers legal and operating costs from its start until March 31, 2024, but it does not include money spent after that date.
Post Office chairman Nigel Railton said the Post Office was “learning lessons from serious failures of the past”.
More than 900 subpostmasters have been prosecuted over deficits in their accounts caused by bugs in Fujitsu's Horizon computer system, in what has been described as one of the most widespread errors in British legal history.
Many lost their livelihoods or were forced to make up the deficit with their own money, while some former subpostmasters committed suicide.
The investigation came after deputy postmasters fought for years to uncover the injustice.
The Post Office's figures for legal costs related to the investigation do not include the money it spent to compensate wrongfully convicted subpostmasters.
The Post Office recorded a total of £816 million in “exceptional expenses” for the year ending March 31, 2024, which includes legal and operating costs as well as money spent on compensation and cancellations convictions.
However, despite the expense, some subpostmasters say they have yet to receive any compensation, while others, such as Sir Alan Bates, believe what they have been offered is not enough.
The results show how legal and operating costs increased as the investigation progressed.
The Post Office spent £82 million in the 12 months to March 31, £38 million in the previous 12 months and £12 million in the previous year.
The results also show the extent to which legal costs and reparations are taking a toll on its finances.
It showed pre-tax losses widened to £612 million – up from £81 million the previous year – while its debts soared beyond the value of everything it owns.
The release of the figures comes after two and a half years of evidentiary hearings ended this week and final statements were submitted.
Commenting on this milestone, Mr Railton said “there is much more to learn and culturally integrate into our organization as we move forward”.
Its chief executive also said Thursday that the organization expects the amount of compensation paid to increase in the new year as it continues “to accelerate the pace of payments.”
However, he added that “no financial reparation can replace what was lost to the victims.”
Nick Read also won't receive a bonus, having waived his rights when he resigned in September after months of oversight of the organization.
