Business Irish

Friday 22 September 2017

PayPal's Irish unit records 12.5pc profit rise to €4.7m

Gordon Deegan

OPERATING profits at the main Irish company of US-owned e-commerce firm PayPal increased last year by 12.5pc to €4.7m, new figures show.

According to accounts just returned to the Companies Office, Paypal Europe Services Ltd increased its operating profits after revenues rose marginally from €91.7m to €92.1m in the 12 months to the end of last December.

The company has its European HQ in Blanchardstown, Dublin, where it hosts PayPal's European customer services and financial services.

Earlier this year, the eBay-owned Paypal announced its decision to expand its Irish operations when it said it would create 1,000 jobs in Dundalk.

The figures show that there was a slight drop in pre-tax profits, which decreased from €5.7m to €5.63m.

The figures show that the company increased the numbers it employed in 2011 from 1,246 to 1,348, a rise of 102.

Paypal operates an online marketplace where buyers and sellers buy and trade goods and services, the payments for which are managed and secured by PayPal.

Irish Independent

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