An Post profits surge to €8.6m

An Post’s profits more than doubled to €8.6m last year despite a decrease in the amount of post being sent as the company’s aggressive cost savings bore fruit.

An Post Group revenue increased by €11m to €826m during 2015 which helped profits surge from €3.3m the previous year.

The company’s cost reduction measures — which have seen close to 1,900 full-time equivalents let go in the past number of years with another 700 or so due by 2019 — yielded €100m in savings.