Hertz to expand Irish branch

THE main Irish-based unit of car-hire giant Hertz has stated it is committed to further job creation here as it confirmed that operating profits last year increased by 7% to €6.3 million.

According to accounts returned to the Companies’ Office, Hertz Europe Services Centre Ltd’s (HESC) turnover dropped from €53.9m to €53.1m to the end of December.

Last year, HESC announced an expansion of its European Shared Services centre in Dublin, with the recruitment of 100 staff that would bring total employment at the Swords facility to over 930 jobs.

A directors’ report stated: “Despite the economic headwinds that we have faced in the past year we have once again exceeded our performance indicators during 2010. For the year ahead, we are continuing to invest in our people and systems and, in conjunction with IDA Ireland, are committed to further job creation as we expand the services we provide.”

The figures show that the company’s pre-tax profits increased marginally by 2.5% from €7.3m to €7.5m. The figures include a non-cash depreciation cost of €3.2m.

Their accumulated profits last year stood at €119.2m.

HESC was established in Dublin in 1996 as part of Hertz’s centralisation strategy, which provides reservation, customer and accounting services to the company’s nine European markets and offers European Middle East and Africa (EMEA) franchisee support.

The numbers employed increased from 875 to 882 with 643 engaged in administration; 238 in sales and 11 in management.

The company’s staff costs last year increased by 4.5% from €34.6m to €36.2m.

Remuneration to the directors increased from €464,000 to €553,000 that includes salaries of €453,000; directors’ pension scheme contribution of €94,000 and benefits of kind totalling €6,000.

The figures show that the company’s biggest market in terms of revenues was the USA, recording €11.1m in sales, with France recording revenues of €10.4m.