An Post reports 7 pct rise in revenues
An Post has today reported a 7 per cent or EUR 57.2 million rise in revenues to EUR 876 million last year, helped by an increase in mail during the general election.
The postal service’s operating profit before exceptional items increased to EUR 29.1 million compared with EUR 14.7 million during the pervious year.
The company said delivery of items purchased online, and exceptional volumes generated during the election contributed to a growth in the volume of mail delivered.
Increases in the cost of postage introduced in March 2007 had contributed to an growth in revenue from mail delivery.
The company said wages and other staff costs increased EUR 32 million to EUR 600.9 million, with labour costs for its 9,905 staff rising as a result of the implementation of national wage agreements.
To meet the cost of the additional production hours associated with the general election the company incurred once off costs of EUR 10.7 million. This total included an agreement reached with postmasters this year.
Over the year the average number of staff employed declined by about 90.
Other operating costs rose by 6.3 per cent to EUR 245.9 million reflecting an increased marketing spend and upgrading of the An Post fleet.
The accounting deficit in An Post’s pension scheme showed a deficit of EUR 114 million last year, down from EUR 193 million the previous year.
Last year also marked the start of the 50-50 Postbank joint venture with Fortis which will is offering banking services out of more than 250 post offices.
An Post has today reported a 7 per cent or EUR 57.2 million rise in revenues to EUR 876 million last year, helped by an increase in mail during the general election.
The postal service’s operating profit before exceptional items increased to EUR 29.1 million compared with EUR 14.7 million during the pervious year.
The company said delivery of items purchased online, and exceptional volumes generated during the election contributed to a growth in the volume of mail delivered.
Increases in the cost of postage introduced in March 2007 had contributed to an growth in revenue from mail delivery.
The company said wages and other staff costs increased EUR 32 million to EUR 600.9 million, with labour costs for its 9,905 staff rising as a result of the implementation of national wage agreements.
To meet the cost of the additional production hours associated with the general election the company incurred once off costs of EUR 10.7 million. This total included an agreement reached with postmasters this year.
Over the year the average number of staff employed declined by about 90.
Other operating costs rose by 6.3 per cent to EUR 245.9 million reflecting an increased marketing spend and upgrading of the An Post fleet.
The accounting deficit in An Post’s pension scheme showed a deficit of EUR 114 million last year, down from EUR 193 million the previous year.
Last year also marked the start of the 50-50 Postbank joint venture with Fortis which will is offering banking services out of more than 250 post offices.
