PCH on course to make a profit this year

PCH INTERNATIONAL – the Cork-headquartered international supply chain management company – has said it is on course to return to profitability this year, after significantly slashing its losses in 2008.

The company, which is headed up by 2007 Ernst & Young Entrepreneur of the Year award winner Liam Casey, made a pre-tax loss of just under $4.4 million (€3.09m) for 2008, according to accounts just filed with the Companies Office. This figure, however, was a significant narrowing from the $9.46m loss made in 2007.

Turnover, last year, fell from $119.9m to $114.2m, but gross margins increased from 11% to 16%. The company was last profitable in 2005.