An Post is applying to increase the price of a 48c stamp to 60c.
Today the State-owned organisation reported a profit of €6.5m for 2004. The results mark a €45m euro turnaround in its fortunes.
The strong profits were helped by the sale of some properties and the capping of its outgoings. Under the surface, it had an operating profit of €1.8m.
The company said future prospects were uncertain and it is seeking to reduce costs. Mail volumes declined by 1.3% since 2003 despite good economic growth.
The company said it implemented stringent controls of overtime and recruitment. It also refused to give increases due under the national wage agreement.
