Beyblade lull slices profits at Irish arm
Published 17/06/2015 | 02:30
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.