Hurling helmet supplier Mycro posts €244k hike in profits

The Cork-based sportswear firm that supplies helmets to many of the country’s top hurlers posted a €244,000 increase in profits last year.

Hurling helmet supplier Mycro posts €244k hike in profits

New accounts lodged by Mycro Sportswear Ltd show that the firm’s accumulated profits increased by €244,108 from €1.58m to €1.82m in the year to the end of June last year.

The bumper 2015 by Mycro followed the firm having posted profits of €182,141 in 2014.

However, it had two loss-making years, in 2013 and 2012.

The firm, which was established in 1986, is the largest supplier of hurling helmets in Ireland.

Its standard hurling helmet sells for €75. The current helmet is its fifth generation of equipment.

They are manufactured at Ballincollig in Co Cork, using raw materials from local suppliers.

It has a healthy export business, selling its helmets to far-flung places countries as Australia, Japan along with exports to the UK, France and the US.

The firm has benefited greatly from the GAA making it mandatory for all hurlers to wear a helmet since 2010.

According to a study, the proportion of head-related injuries of hurlers treated in hospital accident and emergency facilities drops dramatically when players use full head protection, involving a helmet and a face guard.

Players such as Cork’s goalkeeper Anthony Nash help endorse the firm’s helmet products.

Mycro Sportswear Ltd’s cashpile last year jumped from €454,306 to €662,147.

At the end of June, the firm’s accumulated profits totalled €1.82m.

The value of the firm’s financial assets increased by €100,000 to €700,000 during the year.

Numbers employed by the firm last year remained unchanged at 15 people.

Staff costs last year increased slightly from €367,577 to €372,518.

The Irish-owned firm also sells hurleys, sliotars and gloves.

The firm’s directors are named as medical doctor Patrick Crowley and Denis Cremin.

The accounts show that last year directors’ remuneration was pegged at €15,246.

That was around half of the €35,522 that was paid out to directors in 2014.

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