Profits at DHL Ireland speed ahead to €9.48m as revenues rise to €188m
Pre-tax profits at the Irish arm of delivery giant DHL last year increased by 13 per cent to €9.48 million.
New accounts filed show that DHL Express (Ireland) Ltd last year recorded the increase in profits as revenues rose by 9 per cent from €171.98 million to €188.14 million.
Advertisement
The €9.48 million pre-tax profits follow pre-tax profits of €8.4 million in 2023.
The company last year paid out an interim dividend of €5 million and this followed a €5 million dividend payout in 2023.
The directors state that the increase in revenues "represents a strong performance given the economic conditions in Ireland and indeed internationally'.
The directors state that the company increased profitability despite the challenges in the domestic and international economy.
Advertisement
DHL Ireland makes express time sensitive deliveries from Ireland to and from 220 countries.
The directors state that "the core international air express service - import and export - which represents the largest contribution to total turnover, is also the key driver of the growth generated through the year.
They state that the firm's "International Road, Domestic and Same Day services have also performed well and have delivered improved results'.
They state that global supply chains continued to be impacted by the ongoing war in Ukraine and by the conflict between Israel and Hamas and thereafter 'the energy crisis and the impact of high inflation and weak (to negative) economic growth across most countries served'.
Advertisement
They state that 'despite these circumstances the DHL Express business in Ireland, delivered strong growth in turnover and profit".
The directors further add that the company continues to invest in its network infrastructure with a focus on carbon reduction.
The directors state they during the year the company took delivery of its first 44 electrical vehicles as the company transitions to an electrical fleet.
Numbers employed by the business last year increased by seven from 505 to 512 and staff costs increased by €2.8 million from €32.7 million to €3.55 million.
Owned by the German-based Deutsche Post, the firm last year recorded post tax profits of €8.06 million after paying corporation tax of €1.4 million.
At the end of December last, shareholder funds totalled €35.4 million which included accumulated profits of €11.39 million.
The profit last year takes account of combined non-cash depreciation costs of €1 million while directors' pay totalled €642,729 made up of €570,691 in emoluments, €33,106 in benefits under a long term benefit scheme and €38,972 in pension contributions.
The profit also takes account of lease costs of €5.38 million.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Independent
28 minutes ago
- The Independent
Zia Yusuf's return to Reform UK ‘great news', says deputy leader
Reform UK deputy leader Richard Tice has said it is 'great news' that Zia Yusuf is returning to the party just 48 hours after quitting as its chairman, adding he has 'done a brilliant job in growing the party'. Mr Yusuf said his decision to stand down had been the result of 'exhaustion' and working for 11 months 'without a day off'. Party leader Nigel Farage, speaking to the Sunday Times newspaper alongside Mr Yusuf, said the former chairman will now effectively be doing 'four jobs', though his title has not yet been decided. He will lead Reform's plans to cut public spending – the so-called 'UK Doge', based on the US Department of Government Efficiency which was led by tech billionaire Elon Musk. The ex-chairman will also take part in policymaking, fundraising and media appearances. Mr Yusuf said he was quitting Reform following the latest in a series of internal rows, in which he described a question to the Prime Minister concerning a ban on burkas from his party's newest MP as 'dumb'. On Sunday, it was put to Mr Tice that it does not look very professional for Reform's chairman to be in, out, then back in again. He told the BBC's Sunday With Laura Kuenssberg programme: 'Zia Yusuf has done a brilliant job in growing the party, creating huge infrastructure, over 400 branches, but it's a massive job and as we were growing incredibly fast, essentially that job was too much for one person, so we're reorganising, and I'm delighted that Zia is staying with the party, and he's going to be focusing on our Doge unit. 'There is so much waste you've been talking about, how does the Government find more money? 'Well, the best thing is to stop wasting money. I'm afraid, what we're discovering as we look under the bonnet of the 10 councils that we are now in control of, is there's waste everywhere, and it's got to stop. 'That's what Zia is going to focus on, as well as fundraising. So it's great news he's with us.' Meanwhile, shadow home secretary Chris Philp called Reform UK a 'protest party' and said it is offering 'populist policies that are essentially Liz Truss on steroids'. Asked if it is time for the Conservatives to think about a more constructive approach to Reform, he told Sunday Morning With Trevor Phillips on Sky News: 'Nigel Farage is saying he wants to destroy the Conservative Party, which makes it quite difficult to work together. 'I mean, they're all essentially a protest party. 'You just asked about Liz Truss… they're offering populist policies that are essentially Liz Truss on steroids.' Announcing his resignation on Thursday afternoon, Mr Yusuf said: 'I no longer believe working to get a Reform government elected is a good use of my time, and hereby resign the office.' Mr Yusuf said he had been left feeling undervalued by some in the party and drained after being subjected to relentless racist abuse on X, and that he made the comments in 'error'. He added: 'I spoke to Nigel and said I don't mind saying I made an error. It was a function of exhaustion.' Asked about the row over talk of banning the burka, Mr Yusuf said he 'certainly did not resign because I have any strong views about the burka itself' but felt blindsided by Sarah Pochin's question to Sir Keir Starmer. He said: 'If there were a vote and I was in Parliament, I would probably vote to ban it actually,' but that 'philosophically I am always a bit uneasy about banning things which, for example, would be unconstitutional in the United States, which such a ban no doubt would be'.
Sky News
28 minutes ago
- Sky News
Buyout firms circle corporate intelligence firm G3
A corporate intelligence firm which employs Sir John Sawers, the former head of MI6, is closing in on a deal to sell a big stake to a buyout firm. Sky News has learnt that G3, which was founded in 2004 and advises clients on a range of risks affecting their businesses, has been in detailed talks in recent weeks with private equity suitors including Oakley Capital and KKR. Precise details of a transaction were unclear on Sunday, although one source suggested that a deal was likely in the coming days, and could value the business at between £200m and £250m. They said that Oakley Capital - founded by the entrepreneur Peter Dubens - had emerged as the most likely investor, although a deal had yet to be agreed. Bridgepoint, another London-based private equity firm, had also expressed an interest in G3, the source added. G3 already has some external investment, having struck a deal with All Seas Capital in 2022, according to the latter's website. The firm - which files accounts under the name G3 Good Governance Group - advises companies, private equity firms, sovereign wealth funds and pension funds on areas of commercial risk such as cybersecurity, reported a 27% rise in revenue in 2023. During that year, the latest for which accounts are available, it recorded earnings before interest, tax, depreciation and amortisation of nearly £9m. Sir John, who stepped down as the head of MI6 in 2014, was named chairman of G3's advisory board last year.
The Guardian
32 minutes ago
- The Guardian
Trump tariffs could ‘wipe out' European steel sector, senior industry figure says
Europe's steel industry faces being 'wiped out' in the face of Donald Trump's prohibitive 50% tariffs, high energy costs and a mountain of cheaper Chinese steel, one of Germany's biggest industrial groups has warned. Ilse Henne, a board member at the steel, engineering and chemicals group ThyssenKrupp, said the industry faced an existential crisis after the US president's decision last week to double tariffs on steel and aluminium imports from 25% to 50%. Asked at the European Policy Centre conference on security in Brussels if she 'feared a wipeout', she replied: 'Of course.' Henne, who is chief executive of ThyssenKrupp Materials Services, told the Guardian: 'Steel is at the beginning of the value chain, so you create a lot of instability for all these supply chains that get disrupted that now all of a sudden have to deal with much more expensive steel.' Steel and aluminium are foundational industries, central to everything from submarines, aircraft and cars to everyday products such as stainless steel cutlery, food mixers and joists in housing. 'If the European steel industry disappears, we will have a lot of collateral damage,' said Henne. 'A weak European steel industry is not only a weak European steel industry. It also puts all the other steps in the industry and the value chain in danger.' She said Europe must step in to save the sector because it was fundamental for military security and was a large employer, and if it failed, the continent would be left reliant on the US and China for a key manufacturing material. There is also the growing problem of cheap Chinese steel imports, something the European Commission has in its sights in current talks with Beijing over its dumping of goods in the EU, which are also covering the oversupply of cars and fast fashion. Chinese steel imports soared by 36% in the first quarter of 2025, according to Eurostat. According to Henne, Russian steel is still appearing on the market, at a level of 3m-4m tonnes a year, just short of the 3.8m tonnes the EU as a whole exports to the US. The US doubling of the tariff on steel and aluminum imports does not apply to the UK, which will continue to pay 25% until 9 July and is racing to implement the terms of a bilateral deal struck last month that would take the rate down to zero. Ministers are working to ensure the UK's biggest player in the sector, Tata Steel, is not excluded from the deal because it has begun importing semi-finished products from India and Europe since closing its blast furnace in south Wales last year. This could breach US rules that require all steel to be 'melted and poured' in the country from which it is imported. US representatives also have concerns that British Steel, which is owned by China's Jingye group, could be used as a 'back door' to bring in Chinese products. The UK government used emergency legislation to take control of the company's plant in Scunthorpe, and according to the Sunday Times, ministers now face a standoff with Jingye over a £1bn-plus compensation claim to get it to relinquish its interest. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion Henne said Trump's tariffs strategy could backfire and kill US heavy industries rather than deliver the revival he has promised. 'Following the 50% tariff increase, all US steel producers have immediately bumped up their prices. So the cost of manufacturing has gone up,' she said. The impact 'is a lesson that the US has to learn, unfortunately, I believe, the hard way,' she said. 'What they are doing is actually limiting their own growth potential.' In its second quarter outlook report issued last Thursday, Eurofer, the EU steel trade association, said the US tariffs had dealt 'a severe blow' to recovery expectations. It has called on the EU to bring in 'emergency' measures to help save the industry. 'There is a lot that we can do to save the steel industry,' said Henne, calling on the European Commission to do more to ensure hydrogen came on stream at a competitive price to reduce the reliance on oil- and gas-fuelled furnaces. 'Reducing the tariffs would be a good thing, but equally important for us is competitive energy pricing,' she said.
