Exports key to DHL’s Q1 profit

THE strength of Ireland’s export performance in the first quarter of 2011 contributed to an increase in the volume of business recorded by the Irish arm of international distribution giant DHL.

That is according to accounts filed with the Companies Office by DHL Express (Ireland) Ltd (DHLIL), which show the company recorded an operating profit of €428,000 last year after making an operating loss of €25.2 million in 2009.

That loss was mainly due to a restructuring of the business that involved €16.5m in redundancy payments for 300 staff let go by the company.