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An Post sees revenue increase to €897 million

An Post sees revenue increase to €897 million

An Post, the state-owned postal company of Ireland, has reported a jump in revenue last year. The company’s sales increased by almost 7 percent to 897 million euros. Although there was a predictable decline in its traditional mail business, the company’s parcel volumes grew further.

The parcel volumes of An Post increased by almost 40 percent last year, the company reported today. This rise is driven by the increase of ecommerce globally. An Post’s operating profit grew to 41 million euros last year, from 8 million euros in 2017.

Significantly increased parcel volumes

The group’s revenue grew with 57 million euros to 897 million euros. “This strong performance was driven by significantly increased packets and parcel volumes, the full year impact of price adjustments, the volumes generated from the presidential election and referendum, an increase in retail revenue and continued strong performance in subsidiary companies”, An Post explains.

‘Focus on ecommerce lets parcel volume grow 40%’

“Last year, we built the foundations to transform An Post’s core activities”, CEO David McRedmond added. “The focus on ecommerce is seeing parcel volumes grow by almost 40 percent and the Post Office network has a radical modernization program underway. Operating costs are shifting into new areas of growth and the business is strongly cash positive.”

Launch of An Post Commerce

For this year, the company has plans to automate certain parcel operations, refresh its brand, marketing and customer interfaces and launch An Post Money and An Post Commerce. The latter is a new dedicated business service that offers a range of expert mail, marketing and parcel solutions to help retailers grow.

Ecommerce in Ireland keeps growing

Ecommerce websites in Ireland welcomed a third consecutive year of revenue growth in 2017. During that year, the total online revenue of these companies increased by 45 percent year-on-year.