Pretax profits at the firm contracted to clamp illegally parked vehicles in the Dublin City Council area last year dipped marginally to €712,580.
New accounts filed by Dublin Street Parking Services (DSPS) Ltd show that profits decreased slightly as revenues increased by 4 per cent to €6.46 million.
The pretax profits last year fell by 1 per cent from the €720,366 recorded in 2023.
In a note with the accounts the directors said that the main activity of the company is the enforcement and immobilisation of illegally parked vehicles throughout the Dublin City Council area.
RM Block
According to the note, the company has a five-year contract with council with the option to extend for a further two years.
The contract ended in July 2024 with both parties agreeing to extend it until July 2026.
The accounts noted that a new agreement would be tendered out “but the directors are confident that the company will be able to retain the contract”.
DSPS has operated the clamping contract since 2004 and in a normal year, it tickets, clamps, relocates and stores about 60,000 vehicles in the capital.
Quarterly purchase orders published by Dublin City Council show that the company last year received €7.99 million (Incl VAT) in payments from the local authority.
Purchase orders for the first three quarters of this year show that €4.8 million has been paid out to the company to the end of September 2025.
Last year Dublin City Council generated €51.19 million in parking fines and charges, a 7 per cent increase on the €47.7 million in 2023.
The clamping company recorded post-tax profits of €607,158 after incurring a corporation tax charge of €105,422.
The profits for last year take account of non-cash depreciation costs of €125,551.
Numbers employed by the company last year remained at 56.
At the end of December last, the company’s accumulated profits stood at €2.58 million. Cash funds declined from €1.5 million to €452,560.
DSPS was part of the Tazbell group that was sold to the Dutch-headquartered Q Park in 2023.
Accounts filed by Q Park Ireland last year revealed that the owners of Tarbell received an initial €35.68 million from their sale of the business and the other car-parking entities in the Tazbell Group.
