Delivery firm DPD enjoyed a 40% surge in pre-tax profits to €13.4m in 2020 due to the surge in online orders by homes during the early stages of the Covid-19 pandemic.
New accounts filed by DPD firm, Interlink Ireland Ltd show that the pandemic delivered a 54% revenue increase for the company as revenues rose by €55m from €102.8m to €157.86m in the 12 months to January 3, 2021.
In recent days, the firm has filed overdue accounts for 2018, 2019 and now the pandemic impacted 2020.
On the 2020 performance, the directors state that "the significant growth is due to increased online deliveries accelerated by the Covid pandemic".
The directors state that they "are very satisfied with the overall performance of the company despite the many people challenges that the Covid-19 pandemic has brought to the business".
On an upbeat note, the directors state that "with the continuation of online business to consumer deliveries, the company is in a strong position to take advantage of changes in the marketplace for the coming years".
The new accounts show that in order to deal with the increased demand, numbers employed by Interlink Ireland Ltd increased from 457 to 585 as staff costs went up from €11.62m to €15.79m.
The accounts show that the company's Irish revenues totalled €123.52m in 2020 with UK revenues totalling €34.32m.
The profit takes account of non-cash depreciation costs of €3.53m.
Pay to directors increased to €841,000 made up of emoluments of €725,000 and pension payments of €116,000.
Interlink Ireland Ltd was established in 1986 with 10 depots and a central hub based in Athlone, Co Westmeath and the business is today Ireland's largest dedicated parcel delivery company with 35 depots throughout the country handling in excess of 20 million parcels a year.
In 2000, Interlink Ireland became part of GeoPost, the parcels and express division of La Poste, the French Post Office.
By 2006, business had grown to such an extent that the company committed €18m to the development of a new hub and headquarters in Athlone.
In February 2008, Interlink Ireland changed its name to DPD.
By January 3, 2021 shareholders' equity at Interlink Ireland Ltd totalled €64.37m, which included accumulated profits of €63.23m. The company's cash funds reduced from €6.1m to €5.34m.
Reporting by Gordon Deegan
