Friday 18 October 2019

An Post delivers rise in operating profits, launches €5m rebrand

An Post CEO David McRedmond. Photo: Gareth Chaney Collins
An Post CEO David McRedmond. Photo: Gareth Chaney Collins
Gavin McLoughlin

Gavin McLoughlin

An Post saw revenue grow 7pc last year as a fall in letter volumes was offset by a 40pc rise in parcel volumes, driven by the rise of e-commerce. The company, which launched a €5m rebrand yesterday, said operating profits went from €8m in 2017 to €40m, helped by "tight cost control".

Led by former TV3 boss David McRedmond, the State-owned postal service is going through a substantial overhaul and announced plans to close more than 150 post offices last year.

Yesterday it announced two new brands: An Post Money and An Post Commerce. The former will provide financial services including loans, current accounts and credit cards, while the latter will provide e-commerce services to businesses. It has also overhauled its logo.

"An Post's move into a new world of e-commerce and financial services has delivered great results in 2018," Mr McRedmond said. "The transformation has been achieved through big moves: fixing our core economics, building a great team, delivering breakthrough deals, and now reinvigorating our brand," he added.

"I acknowledge the tremendous effort of all An Post's employees to deliver great results and lasting change."

The logo change sees the 'wavy lines' - representing a mark on a letter from a franking machine - disappear. The letter 'o' in Post now contains a so-called "Mobius symbol".

An Post says this represents "ongoing change and connectedness".

"The colour green, associated with An Post more than any other Irish company, is being strengthened with a fresher, more modern shade, which stands out in both physical and digital environments and reflects how sustainability is core to the company.

"The contemporary and distinctively Irish heritage-style typeface has been uniquely developed for An Post," it said.

It added that the new brand would be rolled out in a "cost-effective manner".

"While change will be immediately evident over the coming months on Post Office fascias, stationery and online, the new look will be phased in over three years in a cost-effective manner.

"An Post vehicles and delivery staff uniforms will feature the new branding as they fall due for replacement."

The overhaul was revealed at an event in the GPO yesterday. The €5m cost is spread over three years and includes the cost of shop-front overhauls and uniform rebrands. Debbie Byrne, managing director of An Post's retail business, said: "Refreshing this iconic Irish brand is another important step in the transformation of An Post, becoming more relevant and accessible for customers in the digital and physical world.

"Post offices are changing to become modern, sustainable retail outlets while retaining the unique human touch.

"An Post Money brings together all our new and enhanced financial services, providing choice for the market whether online or in-store."

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