Largest clamping firm back in profit

THE LARGEST car-clamping firm in the State returned to pretax profit last year despite a 19 per cent slide in revenues.

Nationwide Controlled Parking Systems (NCPS) manages 65,000 parking spaces in 750 sites across the State for clients including Dublin City Council, Aldi and Superquinn. It provides clamping services at 70 Irish Rail stations.

Accounts filed at the Companies Office show NCPS recorded a pretax profit of €327,025 in the 12 months to August last on revenues of €10.2 million. It had reported a €1 million loss the previous year on the back of provisions of €1 million owed by group companies and impairment charges of €311,385 on property.

The directors attributed the drop in revenues to the company ceasing security-based services.

Employment at the group fell to 91 from 211.

The directors say in their report they are “hopeful the levels of parking management services can be maintained at current levels and that the difficult overall market conditions should still allow for the company to continue profitably in the coming years”.

The decline in number of employees resulted in employment costs last year falling to €2.8 million from €5.3 million.

Remuneration for the five directors amounted to €375,714.