Profits down 36pc to €16m at Symantec

Pre-tax profits at the Irish arm of online security firm Symantec last year decreased by 36pc to €16m.

New figures show that Symantec Ltd sustained the drop in pre-tax profits after revenues decreased by 18pc, going from €1.6bn to €1.32bn in the 12 months to the end of April 1 last.

The drop in revenues arose from the Symantec Corporation selling on its information management business, known as Veritas, to the Carlyle Group.

Revenues from this part of Symantec Ltd’s business accounted for €233m of revenues, compared to €400m in 2015.

Numbers employed at the firm’s Irish operation last year decreased from 987 to 893, with staff costs going down from €83.1m to €73.7m.

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 23 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.

Remuneration for the firm’s directors last year increased from €447,000 to €473,000.

The company’s workforce was last year made up of 518 in sales, marketing and administration with 375 in development and support.

Accumulated profits stood at €236m last year.
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