Mr. Kieran Mulvey:

As chairman of An Post, I can say that we have every confidence in the future of the post office. Over recent years, under Mr. McRedmond and his management team, we have seen considerable success against extraordinary competition. We are in a highly competitive environment, particularly for parcels. That is a significant growth area for us. We operate on a multiplicity of fronts. It is not just about maintaining the post office network and the products that go through it. There is also the centralised delivery of mail parcels throughout the country, including Government services. There are requirements, including compliance and regulation, that go with that, between ComReg, the Central Bank and the Department.

As Mr. McRedmond indicated, we passed the €1 billion mark this year. A significant programme of change will take place over the coming years. We believe it will enhance and solidify An Post for the future. We want to be a good commercial State company that provides a significant social service to the State. We want to maintain that image. We have a good brand and a good name. We want to be in a space where we are in a position to match competition, not just within the country, but internationally. All the multinationals operate here. They all see the post office as viable for parcel delivery and financial products. A number of significant developments will be announced.