Profits up at main Irish unit of Adobe

PRETAX PROFITS at the main Irish unit of US software giant Adobe last year increased by 2 per cent to $540.5 million (€417

PRETAX PROFITS at the main Irish unit of US software giant Adobe last year increased by 2 per cent to $540.5 million (€417.7 million) as revenues topped $2.3 billion, writes Gordon Deegan.

Companies Office filings by Adobe Software Trading Company Ltd show that revenues increased by 13 per cent from $2 billion to $2.3 billion in the 12 months to the end of December 2nd last.

The company, with an address at Citywest in Dublin, is the intermediary holding company for Adobe’s subsidiaries based in Europe, Africa and the Asia-Pacific regions.

The revenues generated by Adobe’s Irish unit represent 55 per cent of Adobe’s worldwide revenues of $4.2 billion in the year to the end of December 2nd 2011. The company’s after-tax profit was $464.5 million. The profit recorded last year resulted in accumulated profits of $2.24 billion.

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The company’s directors state that the 13 per cent increase in revenues is “as a result of improvements in the international economic environment, new product releases and new business unit revenue streams”.