An Post’s Loss Explained | Dublin News

An Post’s latest financial report reveals an 180.5 million euro loss—mostly a one-time pension adjustment—but their core operations actually turned a 2.8 million euro profit. Revenues rose 3%, hitting 1.05 billion euros, driven by 16% growth in parcel deliveries despite an 8% drop in letters. The pension charge stems from a phased 7% pay increase for members, yet the fund remains robust with a 330 million euro surplus. Operating costs and wages rose slightly, with over 10,000 employees. CEO David McRedmond, who earned 323,000 euros last year, steps down in August after 10 years, replaced by Fergal Leamy, who starts at 285,000 euros. Board pay details were also disclosed, though An Post declined to comment ahead of their AGM. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/7d20365618a3de7e