PCH profit surges 27pc on tablet and eReader demand
STRONG demand for smartphone, tablet and eReader accessories has boosted turnover by 72pc at global supply chain company PCH International.
The Irish-headquartered company reported gross profit totalling $70.7m (€50.8m), an increase of 46.6pc year-on-year.
This translates into a net profit of $17.9m (€12.9m).
Chief executive Liam Casey said the company, which has its headquarters in Cork, was revolutionising traditional supply chain models.
"Our continued focus during 2011 facilitated not only strong growth for PCH but also continued success for our customers," he said.
"We recognise the opportunities to further scale the business and are investing heavily during 2012 to ensure that PCH continues to expand our service offerings, expand the geographies in which we operate, deepen our skillset and, most importantly, to deliver peace of mind to our customers."
The 2011 results revealed:
• Group revenue of $710m (€510.1m), an increase of 72pc year-on-year.
• Record gross profit of $70.7m (€50.8m), an increase of 46.6pc.
• Net profit of $17.9m (€12.9m), an increase of 26.7pc.
The results also showed an expansion of PCH supply chain services, including new offices opened in Seoul and Tokyo to provide expanded sourcing, supplier management and customer relations services.
The results come a day after it emerged the company had signed a new partnership agreement with Intuitive Automata to ship its personal fitness robot to customers across the world.
It has been speculated that PCH is also contemplating an initial public offering.
PCH has been headquartered in Ireland since 1996 and also has operations in China.
The company has 5,000 employees worldwide.