€903k compensation payments eat into Hertz Irish profits

A compensation pay-off of €903,000 to directors for loss of office at the Irish arm of car rental firm Hertz contributed to pre-tax profits slipping to €12.88m in 2015.

Newly filed accounts for Hertz Europe Service Centre show the company’s pre-tax profits declined marginally, from €13m to €12.88m, and revenues fell by 1.5% to €62.7m in the 12 months to the end of December 2015.

In the accounts, the company’s directors state: “2015 was another successful year for HESC. We are continuing to invest in process improvement initiatives across all of our functions in order to further enhance the quality of the service we provide to fellow Hertz Corporation subsidiary undertakings.”