Datapak lifts profits to €1m
DATAPAC, Ireland's largest indigenous IT services company, has boosted profits by 43pc to €1m despite the economic downturn, according to accounts filed with the Companies Registration Office.
The latest accounts filed for Enniscorthy-based Datapac show that the company managed to increase pre-tax profits to just over €1m in the year to the end of December 2009 from €743,500 in 2008.
The privately owned company was established in 1982 and has offices in Dublin, Cork and Belfast, as well a headquarters in the Co Wexford town.
Profits surged in 2009 despite a decline in turnover from €50m to €47m.
In a note to the accounts, the company's directors said significant cost cutting and a realignment of business units allowed it to achieve the results in spite of the pressure on margins. The accounts show that employee numbers were cut from 170 to 137 between 2008 and 2009.
Wages and related costs dropped from €7m to €5.2m.
Directors' remuneration dropped from €588,472 to €551,273 over the same period.
In all Datapac cut operating expenses, including administration and distribution costs, by more than 20pc in the year, from €9m in 2008 to just under €7m by the end of 2009.
Last year Datapac signed a €400,000 five year deal to sponsor Special Olympics Ireland
Datapac was established in 1982 and currently operates through three main units: information technologies, business solutions and IT consumables