An Post makes loss despite slight rise in operating profit

An Post's operating profit for 2010 rose to €5.8m, compared to €5.7m the previous year, results released today have revealed.

An exceptional provision of €20m for Voluntary Severance/Voluntary Early Retirement costs of €20m, together with an FRS 17 pension fund charge of €3.9m and a €6.6m cost arising from the wind-down of Postbank combined to produce a Group loss after tax of €24.7m, however.