An Post Publishes Results Early After Leak, Reports Record €1 Billion Revenue

Irish postal operator An Post released its 2024 annual results ahead of schedule after what it called a “serious misrepresentation” of its finances in media reports citing a Cabinet briefing. The company said revenue topped €1 billion for the first time, rising 10.6 percent from 2023, while profit before exceptional items increased 12 percent to €10.1 million. Chief executive David McRedmond rejected suggestions that the semi-state firm was close to financial difficulty, highlighting a 12.6 percent jump in e-commerce parcel revenue—the fastest growth rate among European peers—along with retail and financial-services gains that offset a 7.6 percent drop in traditional letter volumes. Net cash stood at €38 million at year-end, supported by undrawn bank facilities of €30 million, and total debt fell to €34 million. Communications Minister Patrick O’Donovan, An Post’s shareholder representative, denied being the source of the leak and insisted the company is “very viable and profitable.” Taoiseach Micheál Martin also expressed “full confidence” in the postal service, saying the leak did not reflect the strength of An Post’s business.