Dublin Dell unit pays out €172m dividend to parent
A Dublin-based unit of Dell last year paid a dividend of €172m to its parent firm.
New accounts show that Dell Direct made the dividend payout as it recorded pre-tax profits of €4.28m in the 12 months to the end of February 2018.
The pre-tax profits of €4.28m follow profits of €4.22m in 2017.
The firm's revenues declined by 11pc, from €129.38m to €115.15m.
Numbers employed by the company reduced from 1,107 to 936. The business is engaged in providing data processing services, telemarketing sales and ancillary post-sales technical support for other group companies at its contact centre in Cherrywood.
Staff costs at the company last year totalled €78.13m, marking a 17pc reduction on the costs of €94m in 2017.
The €172m dividend was paid to parent company Dell International Holdings.
The directors disclosed that the firm was sold for €15.9m to a connected Dell entity, Dell Products, in December 2017.
Dell Direct's revenues are made up of commission income received from other group companies for the provision of sales and marketing services in Ireland and certain markets. The directors stated that they were satisfied with the results. The firm's post-tax profits were €3.29m, after paying corporation tax of €987,000.
The directors state that following the company reorganisation, it is expected that this business will be dormant in 2019. Pay to directors increased by 24pc to €965,000.