Euro Car Parks expects to acquire more sites this year

Firm’s strong financial position help it gain business from public and private institutions

Car parks on the quay in Waterford. Photograph: Patrick Browne

Car parks on the quay in Waterford. Photograph: Patrick Browne

 

Euro Car Parks, one of the largest private parking operators in the State, expects to acquire more locations this year.

In accounts just filed with Companies Office, the parking group, which owns thousands of parking spaces across the State, said its strong financial position was helping it gain business from both public and private institutions.

Its parent company acquired two new car parks last year and said its bankers had indicated their willingness to fund further worthwhile acquisitions.

The company saw income from its business jump 8.2 per cent last year to €9.8 million. Profit before tax was 6.6 per cent stronger at just shy of €260,000.

Euro Car Parks (Ireland) operates parking at the Convention Centre and the Point in Dublin, as well as at the Mater hospital. It also has car parks in Limerick, Wexford, Waterford, Athlone, Newbridge and Galway.

About a quarter of the company’s revenue is paid back to owners of the various sites it operates on behalf of hospitals, and other public and private bodies.

The company’s parent group, Euro Car Parks (Ireland) Holdings, reported a fall in profit to €16,460, from €21,491 in 2015.