PCH sees profits soar to €34.5m

PCH International has recorded a surge in profits to €34.5 million on €288.6m sales for last year.

The global supply chain solutions group, which is a world leader in the field, enjoyed a massive boost to turnover which rose 170% to €288.6m while a record gross profit of €34.5m was achieved, representing a 104% increase year-on-year.

Last year, the Cork-headquartered group, with its main operation based in Shenzhen, south China, raised $26m (€18.2m) in new Venture Capital funding from two private equity shareholders — Triangle Peak Partners of California and Cross Creek Capital of Salt Lake City.

This is on top of the $21m invested in the group by Lightspeed Venture Partners, Focus Venture and Northwest Venture Partners in 2008.

Chief executive Liam Casey said the strong growth is directly accounted for by good demand for eReaders, smartphones and tablet accessories within the information technology market.

PCH creates, develops and delivers a wide range of products for that global market and its leading suppliers.

Set up in 1996, the group now employs more than 1,200 people working across four continents.

It was, Mr Casey said, an “extraordinary year” for the sectors served by the group with the hottest products in the consumer electronics industry. PCH is the leader in the accessories market for those products with “medical devices also increasing demand throughout 2010”.

Mr Casey said the group’s strong culture of delivering peace of mind to its expanding client base, which includes three of the top five PC manufacturers in the world and three of the top five consumer electronics companies, is set to enjoy further strong growth.

Since its inception, PCH has engaged in the manufacturing, design and delivery of key electronic parts and equipment to customers.

Mr Casey is extremely bullish about growth prospects and when asked if turnover of €1 billion was on the cards in the near future, he replied: “I would hate to put a limit on it.”

The potential in the sectors serviced by PCH is expanding at an enormous rate.

Down the line he believes significant jobs could be put in place here by the company to service the “flow of information” to the group’s expanding client base.