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Stamping your book: People are saving more and more with An Post

An Post say that they now hold 16 per cent of all personal savings in the country.

PEOPLE HAVE BEEN trusting An Post more and more with their savings over the course of the last six years according to the company’s report for last year.

An Post say that savings at the semi-state is now more than €18 billion and represent 16 per cent of all personal savings in the country.

This is due the a tripling in the amount of savings being placed with An Post since 2008.

Overall, An Post say that they strengthened their position 2013 by reducing their operating loss to €11.4 million from €17.5 million the previous year.

Group turnover was €811.7 million, an increase on the 2012 figure of €807.3 million.

The service say that on average they collected, processed and delivered 12.5 million items of mail every week last year .

Mail volumes are declining however, with a 2 per cent drop in traditional mail last year and a 30 per cent fall since a 2007 peak. But An Post points out that last year’s 2 per cent fall was slower than in previous years, pointing to increased economic activity.

The company adds that they achieved a 22 per cent increase in contracted deliveries last year, something driven primarily by online shipping.

In a statement accompanying the annual report, An Post points towards cost saving as an area they have focused on to reduce their loss, and have so far achieved cuts of €100 million.

In addition the company say that it plans to reduce staff numbers by 1,000 over the next five years.

Read: Here’s why postmasters want cashless welfare payments suspended >

Read: Government makes no comment on postcode costs amid Dáil claims of €30m >

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