Friday 22 September 2017

Eishtec rings up profit rise as call centre firm expands

Minister for Public Expenditure and Reform Brendan Howlin, Eishtec’s Heather Reynolds, Brian Barry and Colm Tracey and Jobs Minister Richard Bruton at a company jobs announcement in 2012
Minister for Public Expenditure and Reform Brendan Howlin, Eishtec’s Heather Reynolds, Brian Barry and Colm Tracey and Jobs Minister Richard Bruton at a company jobs announcement in 2012
John Mulligan

John Mulligan

Eishtec, the Irish call centre outsourcing firm, generated profits of €1.8m last year, up from €679,000 a year earlier, new accounts show.

The business, which was established in 2011, nearly doubled its turnover to €23.8m in 2014 from €12.3m a year earlier.

It was co-founded by three former employees of UK firm TalkTalk - Brian Barry, Heather Reynolds and Colm Tracey - when it pulled out of Waterford in 2011.

Eishtec employs about 1,300 people at offices in Waterford, Wexford and Craigavon in Northern Ireland.

In September, it announced the creation of another 200 jobs at a new purpose-built call centre in Clonmel, Co Tipperary. It paid €18m in salaries last year compared to €9.5m in 2013.

Eishtec provides outsourced call centre services to clients such as UK-based mobile provider EE, as well as ID, the new virtual mobile network launched this year in Ireland by Dixons Carphone.

The company announced its plans to open in Craigavon earlier this year, targeting 320 jobs at its base there. It is receiving a £1.5m grant from Invest NI.

Colm Tracey said the decision to open the Craigavon office was due to increased demand from EE.

The latest set of accounts for Eishtec show that its final result last year was boosted to the tune of €1.6m in interest receivable, compared to just over €1m it received in interest the previous year.

Those figures relate to grants from Enterprise Ireland and other employment subsidies.

Last year, the figure helped to raise Eishtec's pre-tax profit to €3.4m.

The accounts also show that total remuneration paid to directors jumped last year to just over €1m, from €771,000 a year earlier.

Eishtec is entirely owned by the co-founders and Emer Phelan. Enterprise Ireland has 550,000 cumulative redeemable convertible preference shares. Eishtech paid a €16,500 dividend on those shares last year.

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