An Post made losses of €43m last year, according to its annual report published today. It is the company's third consecutive year of losses.
The chief executive of An Post, Donal Curtin, said the results show the company remains ‘on a financial knife-edge.’
An Post's operating loss is a jump of €25.5million on the loss it made the previous year, making it the biggest loss it has incurred since becoming a State owned company in 1984.
The annual report also showed that the number of mail items (mostly letters) delivered to Irish homes fell by three million items.
This is the first fall ever recorded in deliveries and reflects an international trend which is seeing people switch to email.
An Post has further revealed it will shortly lodge a submission with ComReg for an increase in the price of the standard stamp to 55 cent.
TV licence business 'untenable'
Mr Curtin said it was 'untenable' for the company to continue the TV Licence Fee Collection service as it was currently structured.
He was reacting to a report from the Comptroller and Auditor General, John Purcell.
Mr Purcell said that the experience in Britain suggested that the practicalities of assigning the licence fee collection function to another agent could be considerable.
