Saturday 24 August 2019

Profits jump at DHL Irish arm after revenue boost

Stock image
Stock image

Gordon Deegan

Pre-tax profits at the Irish arm of international distribution giant DHL last year increased by 13pc to €3.14m, as revenues also climbed.

New accounts filed by DHL Express (Ireland) Ltd show that the firm enjoyed the increase in profits as revenues went up by 6pc, to €98.5m.

The directors stated that growth was driven by increases in international air express shipments - both exports and imports.

They added that with the profit for the period, the firm "has delivered another successful year of growth in 2018".

The group provides door-to- door pick-up and express delivery of time-sensitive shipments to and from Ireland to more than 200 countries worldwide.

Last year, numbers employed here by the firm increased from 356 to 361, with staff costs increasing marginally, from €19.66m to €19.87m.

The directors are listed as Bernard McCarthy and Michael Farrell, and remuneration for directors last year decreased marginally to €676,654.

Directors' pay was made up of €535,563 in emoluments, €109,450 in benefits from long-term incentive schemes, and €31,641 in pension contributions.

The profit last year takes account of non-cash depreciation costs of €982,756.

The company's operating lease charges increased to €4m.

The firm recorded an operating profit of €3.29m.

Indo Business

Also in Business