Thursday July 2, 2020

PolarLake profits rise prior to Bloomberg sale

PolarLake, the Dublin-based financial software firm acquired by Bloomberg last year, saw its gross profit margin widen in the financial year prior to its takeover.

20th April, 2013

PolarLake, the Dublin-based financial software firm that was acquired by Bloomberg last year, saw its gross profit margin widen in the financial year prior to its takeover.

New abridged accounts for the firm reveal that its gross profit in the year ending June 30, 2012 was €6 million, which was up from a gross profit of €4.6 million a year earlier.

However, increasing administrative costs affected the company's bottom line. Administrative costs rose to €4.6 million last...

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