| 10.5°C Dublin

Paypal's profit hits €4.5m here

THE Irish branch of e-commerce firm Paypal saw profits jump by 12.5pc to €4.5m last year.

Paypal Europe Services Ltd increased its operating profits after revenues increased marginally from €91.7m to €92.1m in the 12 months to the end of last December.

The company has its European headquarters in Blanchardstown. Pre-tax profits fell back from €5.7m to €5.63m, largely due to grant income more than halving from €1.4m to €685,000.

Louise Phelan, above, vice president of Global Customer Services for Paypal Europe, announced the creation of 1,000 jobs in Dundalk earlier this year.