An Post borrowing and profitability
Asked whether An Post borrowing would be fully guaranteed and when the company could stand alone, the Minister did not address the guarantee directly, but expected it to break even or make a small profit in 1986 and be profitable by the following year.
With regard to the Minister's reference to the excellent borrowing capacity of An Post, is it his intention to fully guarantee all of that borrowing and, in his opinion, given An Post's present rate of progress and level of profitability, in approximately what year would he expect them to be standing alone as a semi-State company?
Comment on this
I will be disappointed if An Post do not break even this year. I think they will. They may make a small profit this year. Certainly by next year I expect that An Post will be profitable. I have every confidence that they will be in a position to stand on their own feet. Everyone would agree that the company, since they were vested, have shown particular flair and imagination for which everyone in An Post deserve credit. I am glad to be able to report to the House that they are one of those companies who can stand alone and who do not need to be bailed out by the taxpayer.