An Post in second year of profit

An Post reported a gross profit of €41.2 million in 2018 at its AGM last week.

The €41.2 million comes before transformation costs, pension interest and taxation and excluding one-off items in comparison to a profit of €8.4 million in 2017.

The postal operator was loss-making up until 2016, so this year is its second in profit.

David McRedmond, CEO, An Post said: “In 2018 we built the foundations to transform An Post’s core activities. The focus on e-commerce is seeing parcel volumes grow by almost 40%; and the Post Office network has a radical modernisation programme underway. Operating costs are shifting into new areas of growth and the business is strongly cash positive.

“In 2019 we aim to automate core parcel operations; refresh the brand, marketing and customer interfaces; launch An Post Money and An Post Commerce ; and develop a leaner, more flexible corporate centre. Each of these is a significant challenge and I thank all of An Post’s staff for their outstanding commitment.”

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