DHL Ireland delivers 13% rise in profit

DHL Ireland delivers 13% rise in profit

Pre-tax profits at the Irish arm of international logistics and delivery giant DHL last year increased by 13% to €3.14m.

Newly-filed accounts for DHL Express (Ireland) show the company's revenues grew 6% to €98.5m. The growth was driven by increases in international air express shipments - both in terms of exports and imports.

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

The continued growth at the company followed a restructuring of its business in 2010 to scale back its domestic delivery service that included the closure of five DHL service centres and the loss of 300 jobs.

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

The company generated an operating profit of €3.29m and recorded a post-tax profit of €2.7m after paying corporation tax of €380,768.

As of the end of last year the company's cash pile had increased from €17.77m to €22.84m.

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

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

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