Pre-tax profits at the firm contracted to clamp illegally parked vehicles in the Dublin City Council area last year dipped marginally to €712,580.
New accounts filled by Dublin Street Parking Services (DSPS) Ltd show that profits decreased slightly as revenues increased by 4% from €6.23m to €6.46m.
The pre-tax profits of €712,580 for 2024 followed pre-tax profits of €720,366 in 2023 - a drop of 1%.
The directors state that the main activity of the company is the enforcement and immobilisation of illegally parked vehicles throughout the Dublin City Council area.
According to the directors, the company operates based on a five-year contract with Dublin City Council with the option to extend for a further two years.
They state that since the contract ended in July 2024, both parties have agreed to extend the contract for two years until July 2026.
The directors' report states that a new agreement will be tendered out "but the directors are confident that the company will be able to retain the contract".
DSPS has operated the clamping contract since 2004 and in a normal year, DSPS tickets, clamps, relocates and stores in the region of 60,000 vehicles in the capital.
Quarterly purchase orders published by Dublin City Council show that the company last year received €7.99m (including VAT) in payments from the city council.
Purchase orders for the first three quarters of this year show that €4.8m has been paid out to the company to the end of September 2025.
Last year, Dublin City Council generated €51.19m in parking fines and charges which was a 7% increase on the €47.7m income from parking fines and charges in 2023.
The clamping company recorded post tax profits of €607,158 after incurring a corporation tax charge of €105,422.
The profits for last year take account of non-cash depreciation costs of €125,551.
Numbers employed by the company last year remained at 56.
At the end of December last, the company's accumulated profits stood at €2.58m. Cash funds declined from €1.5m to €452,560.
DSPS was part of the Tazbell group that was sold to the Dutch headquartered Q Park in 2023.
Accounts filed by Q Park Ireland last year revealed that the owners of Tarbell received an initial €35.68m from their sale of the business and the other car-parking entities in the Tazbell Group.
Reporting by Gordon Deegan
