Symantec directors’ pay increases as profits halve

Pay to directors at the main Irish arm of Internet security firm, Symantec last year almost tripled to €1.45m.

This is revealed in new accounts just filed by Symantec Ltd to the Companies Office which show that pre-tax profits more than halved last year to €14.6m.

This followed revenues at the firm decreasing by 3%, or €48.6m, from €1.612bn to €1.564bn in the 12 months to the end of March 28 last.

During the year, staff numbers at the firm increased from 852 to 927.

The revenues recorded at the firm’s Irish unit accounted for 28.3% of the US-based corporation’s global revenues of $6.7bn (€5.7bn) in fiscal 2014.

In July 2013, Symantec announced a further 400 jobs for its Irish base through establishing a new European Customer Management Centre at Blanchardstown, Dublin 15, creating up to 200 jobs in 2013, and a further 200 positions being created over the following two years.

The most recent jobs boost came 22 years after Symantec established its base at Blanchardstown which has been home to a Security Operations Centre, as well as operations in business authentication, software development and testing.

The figures show staff costs rose 18% from €58.68m to €69.51m.

The directors’ report records that gross profit increased by €15.8m or 2%.

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