An Post made losses of €43m last year, its third consecutive year in the red, according to its annual report published today.
The company's chief executive Donal Curtin said the results showed that the company remained 'on a financial knife-edge'.
The losses, which are €25.5m worse than in 2002, had been well flagged.
The number of mail items - mostly letters - delivered to Irish homes fell by three million last year, the first fall ever recorded. This reflects an international trend which is seeing more and more people switching to e-mail.
An Post also revealed that it would shortly lodge a submission with ComReg for an increase in the price of the standard stamp to 55 cent.
Reacting to a report from the Comptroller and Auditor General on the TV licence fee collection service operated by An Post, chief executive Donal Curtin said it was 'untenable' for the company to continue the service as it was currently structured. Last year, according to An Post, it made a loss of €500,000 on its TV licence business.
Next Tuesday, talks on the company's recovery plan - which includes 1,500 job cuts - will resume at the Labour Relations Commission.
