Annual Report 2017
We’ve done great work in 2017 to ensure long-term viability
I want to acknowledge and thank the management teams across An Post, our stakeholders in Government and the Unions, Postmasters across the country, and all of An Post’s employees for their skilled dedication in a difficult year of change.
The combined results from the big decisions in 2017 are rewarding:
- A profit for 2017 of €8.4m against a prior year loss of €12.4m, and a forecast loss of €61m;
- A re-launched parcels business growing share, with volumes up 30% on prior year;
- An efficiency programme eliminating 333 roles (completed in Q1 2018), the first major reduction for a number of years;
- Two business units with strong leadership and agreed long-term strategies;
- Re-based economics with a cost-reflective pricing model, and supported by a breakthrough international pricing agreement negotiated by An Post;
- And a strengthened balance sheet to accelerate the momentum on strategic initiatives.
Restoring An Post’s centrality to Ireland’s social and economic life will require more big decisions in 2018. Bringing great products and services into every community is at the heart of An Post but how we do this matters too. An Post will always be a ‘force for good’.
In 2018 we will strengthen our commitment as a responsible employer by increasing diversity in our workforce, and at all levels in the organisation; and in developing ecologically sound practices as a major physical infrastructure across the State.
Chief Executive Officer
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