The parent of the clamping company contracted to enforce parking rules in Dublin city almost doubled its pretax profits to €1.7 million last year. New accounts for Tazbell Services Group DAC show that profits jumped 73 per cent in 2021 even though revenues increased only marginally from €17.04 million to €17.15 million – which equates to average weekly revenues of €329,845.
The group owns Dublin Street Parking Services (DSPS) which operates the clamping contract for Dublin City Council. 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 it paid DSPS €6.55 million in 2021.
Tazbell Services Group is the largest provider of outsourced parking enforcement services in Ireland through locally-based and branded services, and it also manages 50,000 on-street parking spaces for local authorities in Ireland.
In August of this year Q-Park announced that it had agreed terms to purchase all of Tazbell’s operations. The directors for Tazbell state that the deal is subject to agreement by the Competition and Consumer Protection Commission, with the expectation that the review will be complete this month.
On last year’s performance the directors state that “overall the group returned to normal trading during 2021 and 2022 after the effects of Covid-19″.
The directors state that they are satisfied with the performance of the business.
Staff costs at the group last year totalled €7.7 million, of which €535,425 was paid to key management personnel. Directors pay dipped 9 per cent to €354,432.