DHL Ireland lost €12m for the year ending December 2008, The Irish Independent has reported.

The results came in the run-up to DHL’s decision to cut 320 in the country.

The newspaper states that “last year’s losses were exacerbated by a €6.6m exceptional provision for restructuring, which included €3.06m in redundancy payments”.

A company spokeswoman told the Independent restructuring costs were linked to measures “planned and provided for at the end of 2008″. The cost of the May round of restructuring will be charged in the 2009 results, she added.

“On the trading front, DHL’s turnover dipped about 6% to €147m last year, while operating losses widened to €11.5m against €4.7m in 2007, largely because of the restructuring charges.

“The €12m loss for 2008 pushes DHL’s accumulated Irish result into the red, to the tune of just over €1.3m. The company’s balance sheet also shows its pension fund had a liability of €1.25m at the end of last year, against a liability of €356,000 at the end of 2007,” the newspaper reported.

Source: independent.ie

Tags: DHL, Priv Source, Republic of Ireland, Statistics/Economics, Worldwide