Profits double at Monopoly maker
THE makers of Monopoly last year hit the jackpot here with operating profits at Hasbro's Irish operation more than doubling to €1.2m.
Based in Waterford, Hasbro Ireland is the corporation's European manufacturing base and produces 17 million units every year at its 22,500sq m facility.
Accounts just filed by the US-owned Hasbro Ireland Ltd with the Companies Office show that the firm increased its operating profits by 142pc to €1.2m.
The firm increased its operating profits after revenues increased marginally from €16.79m to €16.82m last year.
The Waterford base – established in 1977 – employs 300, rising to 400 at peak production, and along with a Hasbro plant in Massachusetts is the only Hasbro-owned and operated factory in the corporation. All other manufacturing is outsourced to third parties.
According to the directors' report, "the directors consider the performance of the company to be in line with expectations".
Some of the games that the firm produces at the Waterford plant include Trivial Pursuit, Monopoly, Risk and Cluedo.
Interest payable last year of €216,000 compared with net interest receivable of €479,000 in 2011, resulting in pre-tax profits of €988,000 in 2012 – a marginal increase on the €976,000 pre-tax profits recorded in 2011.
The figures show that the firm recorded an actuarial loss of €3.8m on its pension scheme last year and this followed an actuarial loss of €6.4m in 2011.
Staff costs last year increased from €10.4m to €10.7m.