PCH profits hit record levels
Profits at the Irish outsourcing firm PCH International, which was founded by entrepreneur Liam Casey, rose to a record $14.2m (€9.9m) last year as turnover at the group soared 170pc to almost $413m (€289m).
PCH, which is thought to be valued at roughly $250m (€178m) following a fresh fundraising last year, fulfils supply chain functions for companies such as Apple, Dell and Amazon by designing and shipping accessories for the companies.
PCH outsources the manufacturing of the products to factories in China, where the firm then takes delivery of the goods and packages and ships them onwards. The company employs over 1,300 people, almost 1,000 of them in China.
Chief executive Mr Casey declined to give any forecasts for the current year but said the company was looking at some "exciting opportunities".
Accounts for Amekab, the parent company for PCH, show that gross profit margin fell last year by four percentage points to 12pc, while earnings before interest, tax, depreciation and amortisation rose from $2m (€1.4m) in 2009 to $16m (€11.2m) last year.