Distribution giant DHL's Irish arm sees five years of profit after job cuts
Pre-tax profits at the Irish arm of international distribution giant, DHL last year decreased by 7pc to €1.6m in spite of a jump in revenues.
New accounts lodged by DHL Express (Ireland) show that revenues increased from €80.24m to €84.32m in the 12 months to the end of December last.
The directors state that the company "continues on a successful profit path which was initiated back in 2009 with the strategy to scale back domestic delivery services and to re-focus on core international air and road express business. This marks the fifth consecutive year of profit for the company."
The turnaround in the firm's fortunes followed DHLI restructuring its business here in 2010 to scale back its domestic delivery service that included the closure of five DHL service centres and the loss of 300 jobs.
The directors said the increase in revenues in 2015 "is primarily driven by the continued improvement in core international air express volumes and service".
The directors added that this ongoing growth is made possible by a dedicated focus on the needs and requirements of the Irish customer base who are supported by DHL's locally based award winning customer service centre and sales teams.
The report stated: "Continued growth of business to consumer deliveries has, as expected, impacted upon the DHL cost position throughout 2015 but this has been off-set by on-going improvements in operational productivity and efficiency."
The directors said the company will continue to focus on its core international air and road express business throughout 2016 seeking to provide the best service offer to its customers at the lowest operating cost.
Numbers employed last year increased from 327 to 337. Staff costs fell marginally to €18.24m.
The directors are listed as Bernard McCarthy, Michael Farrell and Philip Couchman and remuneration for directors last year decreased from €672,000 to €657,000. Pay last year included €125,000 of benefits undera long term incentive scheme.
The profit takes account of non-cash depreciation costs of €849,000.