PayPal’s Irish profits halve to €5.8m

Pre-tax profits at the main Irish arm of online payments facilitator PayPal last year more than halved to €5.8m.

PayPal’s Irish operating profits decreased from €11.9m to €5.8m while the accounts show that after corporation tax of €1.5m, profit for the year totalled €4.3m.

The diminished profit came in spite of revenues increasing by 10.5%, from €152m to €168m, in the 12 months to the end of December last.