Parking firm NCPS posts loss despite €2.8m rise in turnover

Company paid €475,000 to landlords last year to surrender the lease on head office

Nationwide Controlled Parking Systems (NCPS), the State’s largest parking services business, increased turnover by €2.8 million to €15.06 million last year.

Nationwide Controlled Parking Systems (NCPS), the State’s largest parking services business, increased turnover by €2.8 million to €15.06 million last year.

 

Nationwide Controlled Parking Systems (NCPS), the State’s largest parking services business, increased turnover by €2.8 million to €15.06 million last year.

According to accounts for the year to the end of August 2015, the company posted an operating profit was €511,337, up from €235,368 in the previous financial year.

However, the company posted a loss before taxation of €172,916, compared to a pre-tax profit of €114,445 for the year to the end of August 2014.

The accounts show wages and salaries for the 89 employees amounted to €2,543,453 last year. This was up marginally from 2014 when there were 86 employees and salary costs of €2,377,538.

They also show it paid €475,000 to landlords to surrender the lease in respct of the company’s head office building in Dublin 2. The original lease, which was signed in 2007, was for 25 years. The company will now have a 5 year lease, on a reduced rent of €65,000 per annum, compared to the previous rent of €230,000 per annum.

The company’s clients include Dublin City Council, Irish Rail, Aldi, the Dublin Docklands Development Authority, the RDS, Transdev and UCD. It has more than 1,100 sites under management with 100,000+ parking spaces.

In the accounts, the directors said they “do not recommend payment of a final dividend”.

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