Further increases in international e-commerce volumes last year served as one of the primary growth drivers for the Irish arm of logistics company, DHL.
That is according to the directors of DHL Express (Ireland) Ltd which show that pre-tax profits at the company last year increased by 33 per cent to €4.13 million.
This followed revenues increasing by 6 per cent from €98.5 million to €104.52 million last year.
On the business impact of Covid-19, the directors said it is anticipated that customer activity and billed shipment levels will gradually recover after the Covid-19 lockdown here.
The directors said revenues remained strong in March and the impact of the pandemic on business was “more evident in April”.
“Our expectation is that as restrictions are lifted and businesses start to return to more ‘normal’ operations, we will be well positioned to support our customers throughout this process,” they said.
The directors said the continued growth in e-commence volumes was “expected to continue into the future and, on that basis, the directors had committed to remain focused on innovative solutions to provide best-in-class services for all e-commerce customers”.
“The overall business strategy for 2020 remains consistent, which is to maintain our clear focus on the core international express market and, in doing so, support Ireland’s exporters and importers to successfully grow and develop their business,” they said.
Numbers employed increased from 356 to 361 and staff costs last year increased from €19.8 million to €20.85 million.
The total remuneration for directors last year amounted to €503,498 while the profits take account of non-cash depreciation costs of €1.06 million.
The company recorded post-tax profits of €3.54 million after paying corporation tax of €591,078.
At the end of December, the company’s shareholder funds totalled €13.5 million. The company’s cash pile reduced from €22.8 million to €15.85 million.
