Third straight year of profits at DHL Ireland
The repositioning strategy at the Irish arm of international distribution giant, DHL has resulted in the firm continued on its successful path to record pre-tax profits last year of €1.59m.
That is according to directors of DHL Express (Ireland) Ltd (DHLIL) who were commenting on the firm recording a 1.3pc increase in revenues to €76.5m in the 12 months to the end of December last.
The profits last year are a 10pc drop on the pre-tax profits of €1.77m in 2012.
The directors state that the firm continues on its successful path with the strategy to scale back domestic delivery services and re-focus on core international and air and road express business.
Numbers employed by the firm remained static at 324.
The directors state that operating profit from continuing business confirms DHL Ireland's financial good health with an operating profit of €1.87m benefiting from the revenue growth but also from an ongoing focus on cost management operational productivity.
The directors state that the company's repositioning strategy "has led to the successful turnaround from losses in 2010 to three consecutive years of profit."
Staff costs increased from €17m to €17.82m. The profit takes account of €818,000 in non-cash depreciation costs.
Directors' emoluments increased from €533,000 to €616,000 to three directors.