Trend Micro’s Cork arm boosts profits 35%
New figures show that the Cork-based Trend Micro (EMEA) Ltd recorded the operating profit increase after revenues fell marginally from €166.99m to €166.92m in the 12 months to the end of December.
The Cork operation oversees the company’s European, African and Middle East markets (EMEA) markets. The accounts also show that the numbers employed by the firm dipped by one last year from 547 to 546.
Despite this, the company’s staff costs increased by 12% from €54.2m to €60.8m.
The year also returned a marginal dip in pre-tax profit — from €7.9m to €7.8m — mainly attributable to net interest receivable halving from €3.4m to €1.7m.
In the accounts, Trend Micro’s directors stated that “it is the intention of the directors to take every opportunity to increase market share and to develop the company’s customer base and produce and service offering”.
The figures show that the firm’s profits were hit by a pay-off of almost €700,000 for compensation for loss of office under directors’ emoluments. It was not stated, however, who received the payment.
The returns show that accountant Derek Goggin resigned on Dec 31, 2012, while financial director Anthony O’Mara resigned the following month.
A breakdown of the company’s turnover showed that it generated €157.8m in sales of goods and services and had service fee income of €9m.
As of the end of last year, Trend Micro (EMEA)’s cash levels totalled €118.7m.
Headquartered in Tokyo, the company established its EMEA operations centre in Cork in 2003, initially as a shared-service centre delivering back-office support.
However, it has since expanded its operation and now has responsibility for 15 functions, includingfinancial shared services, business application services centre, and technical support.
The Japanese-owned firm opened a new operations centre for its EMEA business in June 2006 at the IDA Business Park at the Model Farm Rd in Cork.
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