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An Post feels slump

IRISH people are cutting back on using mail services as An Post's profit slipped by €3.6m within the year.

Overall mails related revenue totalled €535m, a fall of €17m on 2010. Core mail volumes fell by 7pc in 2011, mainly due to the economic situation bringing the overall decline in core mail volumes to 23.5pc since the peak of 2007.

And the company is forecasting a further 6pc decline in 2012.

"The impact of this unprecedented decline in mail volumes has resulted in a serious and unsustainable shortfall in USO funding, jeopardising both the future of the service and the viability of An Post's wider operation," the company said.