Accumulated profits at Mycro Sportsgear hit €1.94m

Cork-based sportswear firm Mycro that supplies helmets to many of the country’s hurlers posted profits of €120,295 last year.

Accumulated profits at Mycro Sportsgear hit €1.94m

New accounts lodged by Mycro Sportsgear Ltd show the firm’s accumulated profits increased by €120,295 to €1.94m in the 12 months to the end of June.

The firm had recorded profits of €244,108 in the previous year.

Established in 1986, it is the biggest supplier of hurling helmets in Ireland. A standard helmet sells for €75.

The helmets are made at Ballincollig in Co Cork using local suppliers. Mycro sells into Australia and Japan, as well as the UK, France and the US.

Stars such as Cork’s keeper Anthony Nash endorse the firm’s helmet range. The firm has benefited greatly from the GAA making it mandatory for all hurlers to wear a helmet since 2010.

A study has shown that hurling-related head related injuries fall sharply when full-head protection, including a face guard, is worn.

Last year, Mycro Sportsgear’s cash pile fell from €662,147 to €657,158. Its accumulated profits totalled €1.94m.

The value of the firm’s financial assets increased by €200,000 to €900,000 during the year.

The firm’s shareholder funds increased from €1.93m to €2m. Staff numbers at the firm were unchanged at 15, while staff costs increased slightly to €377,801.

The firm also sells hurleys, sliotars, and gloves. The accounts show that directors were paid €4,728 last year.

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