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DHL Ireland delivers jump in profits

DHL Ireland delivers jump in profits

DUBLIN: Pre-tax profits at the Irish arm of international distribution giant DHL last year increased by 53pc to €2.47m. New accounts lodged by DHL Express (Ireland) Ltd show that the business recorded the increase in pre-tax profits as revenues increased by 5pc – going from €84.32m to €88.45m. The directors state that the company “continues on a successful growth path and 2016 marks the sixth consecutive year of profit for the company”. They state: “This growth is primarily driven by the continued improvement in core international air express volumes and revenue”. The continued turnaround in the firm’s fortunes followed DHLI restructuring its business here in 2010 to scale back its domestic delivery service that included the closure of five DHL service centres and the loss of 300 jobs. The directors’ report states: “The continued growth of business to consumer deliveries has, as expected, impacted upon the DHL cost position throughout 2016 but this has been off by ongoing improvements in operational productivity and efficiency.”

The directors state that the business strategy for 2017 remains unchanged, which is to continue to focus on the core international air and road express market, delivering the best possible service offer to customers at the optimum operating cost. Numbers employed by the firm last year deceased marginally but staff costs increased from €18.58m to €18.24m. The directors are listed as Bernard McCarthy, Michael Farrell and Philip Couchman . Remuneration for directors last year decreased from €657,000 to €596,000. Mr Couchman resigned from the board in July 2016. Pay to directors last year included €127,000 of benefits under a long-term incentive scheme.