Tuesday 22 October 2019

Parcel delivery boosts revenue for An Post as profits rise to €40m

An Post Managing Director Retail, Debbie Byrne Credit: Maxwells
An Post Managing Director Retail, Debbie Byrne Credit: Maxwells
Stock picture
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 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. The transformation has been achieved through big moves: fixing our core economics, building a great team, delivering breakthrough deals, and now reinvigorating our brand. I acknowledge the tremendous effort of all An Post’s employees to deliver great results and lasting change,” Mr McRedmond said.

The logo change sees the ‘wavy lines’ - representing a mark on a letter from a franking machine - disappear. Instead the company has put in a so-called Mobius symbol in the letter “o” in “Post”. It 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,” the company said.

It said 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.

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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