Hawk-Eye profits jump €1.65m

The technology firm at the centre of the controversy over the GAA’s malfunctioning detection system increased its profits by £1.42 million (€1.65m) last year.

According to accounts filed by Hawk-Eye Innovations Ltd with Companies House in Britain, they show that the firm increased its accumulated profits — profits carried over — from £208,347 to £1.63m last year.

The figures show that Hawk-Eye Innovations Ltd more than tripled its cash balance from £608,225 to £1.86m in the 12 months to the end of March 31, 2012.

Reports suggest that it has cost the GAA €200,000 to have Hawk-Eye installed, though the cost has never been confirmed.

England’s Premier League has now contracted Hawk-Eye to provide goal line technology for the new football season.

A separate Hawk-Eye firm, Hawk-Eye (Holdings) Ltd had investments totalling £6.5m at the end of March 2012.

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 Hawk-Eye technology is in place for a two-year trial period following 86% of delegates at Congress voting in favour of installing the system.