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.

Mr Casey established PCH in 1996, initially as a components manufacturing company. With its head office in Cork and operations headquarters in Shenzhen, it was one of the first Irish companies to enter the Chinese market.

It now offers a full suite of supply chain management services for international clients and has a presence (via software development, manufacturing and sales offices) in Ireland, China, the US, South Africa, Brazil and Britain.

The directors of the company said, in their statement to the accounts, that “given the prevailing world market economic conditions,” they consider the group’s operating performance to be “in line with expectations for the year.”

The first half of this year has already seen a 20% year-on-year increase in turnover, mainly on the back of an increase in both existing business levels and new business gains.

PCH’s main activity is in the electronics, telecommunications and medical device sectors.

Its client base includes three of the top five PC manufacturers in the world and a similar ratio of leading international consumer electronics providers.