PCH goes unlimited after 2011 profit boost
THE financial performance of one of Ireland's most successful technology-related firms, Cork-headquartered PCH International, is to be shielded from the public in future.
The company, established by entrepreneur Liam Casey, has become hugely successful by delivering accessories on behalf of tech firms including Apple, Amazon and Dell. Mr Casey was appointed an 'International Start-up Ambassador' last year by Enterprise Ireland.
Revenue and profits at PCH soared in 2011, according to its most recent set of accounts. Revenue rose 72pc to $710m (€545m) that year, while gross profit was nearly 47pc higher at $70.7m (€54.2m).
PCH International has just been re-registered as an unlimited firm at the Companies Office. That means it will no longer be obliged to file publicly available accounts, preventing prying eyes from assessing its financial performance. Becoming an unlimited entity also exposes the company's directors to unlimited liability, unlike a limited firm where directors' personal assets are not at risk.
Filings indicate that PCH International was registered as an unlimited company earlier this month, as was Amekab, the holding company for the business.