Profits at Hertz in Dublin fall 32%

PRETAX PROFITS at the Dublin-based European Services Centre for car-hire giant Hertz fell by 32 per cent to €7.3 million from €10.8 million in 2009, according to accounts just filed with Companies Office.

Turnover at Hertz Europe Services Centre Ltd’s (HESC) dropped 13 per cent to €53.9 million from €62 million.

Last year, HESC announced an expansion of its European Shared Services centre in Dublin, involving the recruitment of 100 staff and bringing total employment at the Swords facility to more than 930.

HESC was established in Dublin in 1996 as part of Hertz’s centralisation strategy. It provides reservation, customer and accounting services to each of the company’s nine European markets, and also offers European Middle East and Africa franchisee support.

The filings show that operating profits dropped 18 per cent to €5.9 million from €7.3 million. The accounts include a depreciation cost of €3 million.

A breakdown of the company’s turnover shows that its busiest market is the United States, where it generated €14 million – a drop of 20 per cent on 2008.

France (€10 million) and the UK (€8 million) were the next biggest market for the car rental group.