Thursday 21 September 2017

Myrco winning with profits of €120,295

Cathal Malone of Clare and Michael Breen of Tipperary, both wearing Mycro helmets, in action during their league clash in Semple Stadium in Thurles, Co Tipperary
Cathal Malone of Clare and Michael Breen of Tipperary, both wearing Mycro helmets, in action during their league clash in Semple Stadium in Thurles, Co Tipperary

Gordon Deegan

The Cork-based sportswear firm that supplies helmets to many of the country's top hurlers enjoyed profits of €120,295 last year.

New accounts lodged by Mycro Sportswear Ltd show that the firm's accumulated profits increased by €120,295, from €1.82m to €1.94m in the 12 months to the end of June last.

The solid 2016 performance enjoyed by Mycro followed the firm recording profits of €244,108 in 2015.

The firm, established in 1986, is the biggest supplier of hurling helmets in Ireland, with the standard helmet selling for €75.

The helmets are manufactured at Ballincollig in Co Cork using raw materials from local suppliers.

The firm has benefited greatly since 2010, when the GAA made it mandatory for all hurlers to wear a helmet. A study has shown that the proportion of hurling-related head related injuries among A&E treated players are reduced 10-fold when full head protection is availed of by wearing both a helmet and a face guard.

Last year, Mycro Sportswear Ltd's cash pile decreased from €662,147 to €657,158. It has a healthy export business selling its helmets to countries such as Australia and Japan along with exports to the UK, France and the US.

At the end of June 2016 last, the firm's accumulated profits totalled €1.94m.

The value of the firm's financial assets increased by €200,000 to €900,000 during the year. Numbers employed remained static at 15 with staff costs last year at €377,801.

Irish Independent

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