An Post CEO Denies Financial Crisis Amid Cabinet Leak

An Post has clarified that its company balance sheet is strong and has little debt, contrary to media reports suggesting financial troubles. The postal service stated that its finances were misrepresented and released its annual results early, showing a revenue increase to over €1 billion in 2024 with reduced debt. An Post CEO David McRedmond expressed frustration over a leaked report on the company's finances, denying claims of financial instability. The Minister for Communications, Patrick O’Donovan, refuted being the source of the leak and affirmed An Post's viability and profitability.

Reports indicating potential losses without election-related revenue were dismissed by McRedmond as inaccurate. An Post emphasized its financial independence, debt reduction, and strong cash reserves. Taoiseach Micheál Martin expressed confidence in An Post, stating that the leak did not reflect the company's actual performance.

According to the source: The Irish Times.