Data Display Holdings triples pre-tax profits

ELECTRONIC display manufacturer Data Display Holdings more than tripled pre-tax profits to €371,218 last year.

The Clare-based, export-led company counts the London Underground, the New York subway, the Paris Metro, the National Roads Authority and Dublin Bus among its clients.

Last year, the firm increased its pre-tax profits by 223%, after revenues increased 8% from €15 million to €16.2m in the 12 months to the end of December last.

This rise is due to lower restructuring costs of €40,700 last year, compared to €125,387 in 2009, and lower interest costs payments of €96,835; €78,198 in 2009.

Operating profits increased by 77% from €241,427 to €427,694.

Data Display Holdings is located in the north Clare town of Ennistymon, employs 125 people and competes for contracts on major transport projects.

Managing director Paul Neville said yesterday he was happy with how the company had performed.

However, Mr Neville said the results were driven by the company’s response to the €900,000 pre-tax loss the firm suffered in 2008.

“That nearly sunk us and if we had a repeat of that in 2009, a loss like that would not have been sustainable. We have been in survival mode, taking costs out of the business and we are doing our very best in very tough trading conditions.”

Mr Neville said: “Everyone has rolled up their sleeves here and worked very hard. We did as good as we possibly could last year in difficult market conditions. Enormous credit is due to our staff here.”

He said that along with manufacturing the display signs on site, staff are also engaged in R&D of the technology and customising the signs. Last year, the company spent €721,910 on R&D.

Mr Neville said a number of items went the company’s way last year, including favourable exchange rates. He admitted: “We got a little lucky last year.”