[Article] Luas Line to lead to "Hundreds" of Job Loses

[Mark Hennessy]

http://www.tribune.ie/business/news/...ver-luas-line/

Dublin firm warns of job losses over Luas line
Neil Callanan

HUNDREDS of jobs could be lost if the Luas line to Lucan is routed through Kilmainham, it has been claimed.

Dublin Providers Limited (DPL) has written to the RPA to state that the company would not be able to survive the disruption which "would have the disastrous effect of closing down our long-standing business resulting in enormous job losses for the area".

The company employs 370 people directly and a consultant's report suggests that if the company closed it would result in nearly 900 other indirect job losses.

"It is our intention to ensure our company, based in Old Kilmainham for over 35 years, is not closed down and be assured we will utilise all of the resources at our disposal to prevent Luas line option F being route through Old Kilmainham," managing director Jerry Maher wrote. Maher could not be contacted for comment last week.

The company has an annual wage bill of more than €11.6m and is investing €6m in its current expansion. It said relocating the business from its current base was unfeasible.

The company saw turnover fall to €98.7m for the year ended 31 December 2007, down from €107.2m the previous year. Pre-tax profits more than halved to €2.34m, down from €5.3m in 2006. Shareholders' funds grew to €50.2m last year. The group employed an average of 364 people in 2007.

The group's land and buildings were revalued in 2007 by independent valuers and their value increased by €3.18m.

"The results of the merchanting and DIY businesses for 2007 were influenced by the decline in activity in the new residential market during the year and were partially offset by the continued growth in the repair, maintenance and improvement and DIY markets," the accounts state.

"An important element of the group's past and future strategy has been growth through bolt-on acquisitions. The group cannot control the pace of consolidation in the merchanting markets and the pace of acquisition activity going forward is not predictable although the group continues to have a relatively healthy pipeline of potential acquisition opportunities."