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McAfee Ireland’s profits reached €25m last year

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McAfee Ireland’s profits reached €25m last year

October 28
09:47 2015

McAfeeBuilding_largePre-tax profits at McAfee Ireland increased by 7 percent to €25m last year.

Accounts show that Cork-based McAfee Ireland’s revenues rose from €393.45m to €419.86m in the 12 months to the end of December last year.

McAfee has its headquarters for its operations in Europe, the Middle East and Africa (EMEA) in Cork and numbers employed there rose from 332 to 338.

In February 2011, Intel agreed to buy McAfee’s global operation for $7.68bn (€5.6bn) in cash in an effort to boost its security offerings.

Profits were also boosted by the firm recording gains of €3.49m on foreign exchange movements. The directors reveal that in a shake-up of the structure of the firm, the company’s parent, McAfee European Holdings transferred its holding in the company to a fellow group company, Intel Shannon Ltd.

The note states: “Subsequently, the company transferred certain employees and transferred all of its tangible fixed assets to Intel Shannon Ltd.”

McAfee’s spend on R&D last year was €9.97m compared to €9.67m in 2013.

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