Business Irish

Monday 26 June 2017

Beyblade lull slices profits at Irish arm

Fall-off in popularity of Beyblade and Bakugan characters, pictured, hits profits at Irish arm of animation company Nelvana
Fall-off in popularity of Beyblade and Bakugan characters, pictured, hits profits at Irish arm of animation company Nelvana

The slide in popularity of cartoon characters Beyblade and Bakugan contributed to the Irish arm of animation firm Nelvana going into the red last year, reports Gordon Deegan.

New figures recently lodged with the Companies Office by the Limerick-based Nelvana International show a pre-tax loss of $4.3m (€3.8m) in 2014, compared to a profit of $7.19m in 2013.

Sales fell 61pc from $43.92m to $17m, according to the accounts.

The report states: "Merchandising revenues continued to decrease due primarily to the slide in popularity of the Beyblade brand and less significantly the Bakugan brand from the prior year." Accumulated profits were $33.2m.

Irish Independent

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