Hi °C | Lo °C Pre-tax profits at the Irish arm of online travel firm ebookers plunged 35pc in 2011 as sales fell.
Accounts recently filed by ebookers.ie show that the firm recorded the pre-tax profit of €230,574 in the 12 months to the end of December 2011 after recording a pre-tax profit of €352,518 in 2010. Gross revenues fell 5pc to €33m.
The figures show that the company's gross cost of sales in 2011 totalled €29.7m resulting in a gross profit of €3.3m.
Administrative expenses of €3.1m resulted in ebookers.ie recording an operating profit of €189,033 compared to an operating loss of €468,140 in 2010.
The firm recorded a pre-tax profit of €325,518 in 2010 as a result of a VAT refund of €782,857.
Ebookers.ie was able to increase its profits in 2011 through €41,541 in interest payments.
The directors state that they are satisfied with the results for 2011.
The profits recorded in 2011 resulted in accumulated profits amounting to €675,658 with shareholder funds topping €1.1m.
The figures show that the firm increased its cash during the year from €88,662 to €1.6m.
The figures show that the numbers employed increased by eight to 30 with staff costs increasing from €468,861 to €555,946. The firm has 27 in sales and three in management.
Irish Independent
