Car park operator's pretax profits decline by 18%

PRETAX PROFITS at car park operator Q-Park fell by almost 18 per cent to €855,939 last year, according to accounts just filed at the Companies Registration Office.

Figures for 2009 show that turnover at Q-Park Management Ltd was broadly in line with the previous year, at just over €4.4 million. The drop in pretax profits from €1.04 million in 2008 was due in part to an increase in administrative expenses.

Shareholders funds dipped during the year, standing at €564,406 on December 31st, 2009, compared to €750,307 at the end of 2008.

Staff costs fell to €638,701 in the year, compared to almost €870,000 in 2008, as the number of workers employed by the company dropped from 22 to 16.

The Dutch-owned company operates more than 30 multistorey car parks in the State, including 11 car parks in Dublin such as Q-Park Clery’s, Grand Canal Square, St Stephen’s Green shopping centre and the Ilac centre car park.

It also operates car parks in Cork, Limerick, Galway, Athlone, Portlaoise and Waterford.

According to Q-Park, the company attracts more than three million customers a year in Ireland.

Q-Park Ireland, a subsidiary of the parent group, which is based in Maastricht, the Netherlands, owns the management company.

The parent group has operations throughout western Europe and Scandinavia. Last year the group had a turnover of €289 million and operated just over 800,000 car park places.

According to the accounts for Q-Park Management Ltd, no dividend was paid in 2009.

The directors of Q-Park Management Ltd are listed as Raymond Peers, Gerry Callaghan and Ward Vleugels.

The company’s registered office is at Marlborough Street in Dublin.