Big 'Tá' for Hawk Eye firm as profits soar to €6.5m

Big 'Tá' for Hawk Eye firm as profits soar to €6.5m

It is a big ‘Tá’ for the tech firm that decides questionable points in top GAA matches as pre-tax profits last year increased at Hawk Eye by 31% to £5.87m (€6.5m).

The Hawk Eye technology has become an integral part of the big GAA match occasions at Croke Park and Semple Stadium over the last number of years and the company’s deal with the GAA has contributed to revenues increasing by 44% from £22.4m to £32.m in the 12 months to the end of March this year.

Hawk Eye Innovations Ltd last year more than doubled its revenues in the UK increasing from £3.84m to £9.05m with revenues from ‘Rest of world’ increasing from £18.55m to £23.15m.

In 2016, the GAA’s use of Hawk Eye extended to Semple Stadium.

First used as a broadcast tool to analyse decisions in Cricket, Hawk-Eye has now become an integral part of over 20 sports and every year covers 20,000 games or events across more than 500 stadiums in over 90 countries.

According to the directors’ report, the firm has had a successful year with revenue growing by 44% from the prior year.

The report states: “The revenue growth is mainly due to the winning of new contracts which also drive the small decline in gross profit margin.

The report adds: “In terms of profitability, the operating margin has remained relatively consistent showing that there is enhanced investment in our support service to facilitate sustainable growth

During last year, the Sony-owned Hawk-Eye gross margin profit reduced from 44% to 40%.

The directors state that they anticipate that the company will continue to trade profitably in the coming year.

The report states: “This will be driven by the globalisation of the brand where the company will both sell our existing services, but also develop new offerings to a range of new customers and sports.

Coupled with high operational standards the company hopes to replicate the success achieved in existing regions.

At Croke Park, the technology involves eight high speed cameras with the ball position triangulated using four cameras covering each end of the stadium.

The Hawkeye technology was installed at Croke Park following 86% of delegates at Congress in favour of installing the system.

Hawk Eye has long enjoyed a high public profile through its ball-tracking technology for tennis.

Along with the GAA, the Sony-owned Hawk Eye also counts the Premier League in England, Serie A in Italy and the German Bundesliga amongst its clients.

The Hawk Eye firm last year spent £1.5m on Research and Development.

The profit last year takes account of non-cash depreciation costs of £2.6m while the numbers employed by Hawk-Eye increased from 176 to 224.

This resulted in staff costs increasing from £6.8 to £9.6m.

Accumulated profits at Hawk-Eye last year totalled £20.5m while the firm’s cash pile reduced from £3.3m to £619,000. Directors pay totalled €597,000.

The accounts show that after paying corporation tax of £1.3, the firm recorded post tax profits of £4.56m.

More on this topic

Something fundamental about the shemozzleSomething fundamental about the shemozzle

'It was as if that aging Face App technology was superimposed over the Mayo team''It was as if that aging Face App technology was superimposed over the Mayo team'

New beginnings and points to prove for sideline strategyNew beginnings and points to prove for sideline strategy

Keith Ricken: No 'snowflake generation' in Cork U20 footballersKeith Ricken: No 'snowflake generation' in Cork U20 footballers

More in this Section

Liberty London sold to new owners in €334m dealLiberty London sold to new owners in €334m deal

Supermarkets cash in as TV and jewellery shops fail to shine in early summer sales, says major surveySupermarkets cash in as TV and jewellery shops fail to shine in early summer sales, says major survey

Green light for €500m data centre in WicklowGreen light for €500m data centre in Wicklow

UK budget deficit swells as June borrowing hits four-year highUK budget deficit swells as June borrowing hits four-year high


Lifestyle

Celebrate the anniversary by finding lift off without even leaving the earth, at these stateside visitor centres and museums, says Sarah Marshall.America’s top space-age attractions to celebrate 50 years since the moon landing

For bookworms and classic movie buffs, the notion of a London park will forever conjure up images of Mary Poppins with the Banks children in tow.Inside/ Out: Park life is looking up in London by Eve Kelliher

“Does anyone want to be my friend?” roared my five year old as he walked into the playground at our French campsite on holidays.Learner Dad: 'It can be heartbreaking watching your kids try make friends on holiday'

These handy product edits are so useful for travelling, says Katie Wright.Palettes pack a punch: The travel must have

More From The Irish Examiner