Digital River returns to operating profit
Published 10/09/2015 | 02:30
Shannon-based e-commerce firm Digital River returned to operating profit after recording operating profits of €1.4m last year.
New accounts filed by the US-owned Digital River Ireland Ltd show the firm returned to operating profit after revenues increased by 4pc to €67.3m.
Numbers employed by the firm last year increased from 102 to 107 with staff costs declining from €4.63m to €4.33m
The firm last year recorded pre-tax profits of €479,709 after interest charges are taken into account.
The profits were significantly down on the pre-tax profits of €14.6m in 2013. However these profits were attributable to an exceptional gain of €17.3m relating to the company's sale of its investments in Softonic International and Intershare.
According to the directors' report, the company provides e-commerce site development and hosting, site merchandising and order management.
The directors state while revenues for 2014 were similar to 2013 "gross margins remain very strong at 64pc.
The directors say that "having reviewed the performance of the company in 2014, they are satisfied with the performance of the business and the results were in line with expected performance.
"The directors expect that business activity for the coming year will remain strong with similar results to previous years." At the end of last year, the firm had shareholder funds of €24.57m made up of €21.9m in accumulated profits and €2.6m in called up share capital. The firm's cash stood at €41.95m.