€400k Profit For Blueface

04 Mar 2016 | 09.45 am

€400k Profit For Blueface

Traction for IP telephony firm

04 Mar 2016 | 09.45 am

Blueface, a specialist in IP telephony, booked a net profit of €409,000 in the year to March 2015, according to filed accounts.

Led by founders Alan Foy (pictured) and Feargal Brady, Blueface was an early mover in the IP telephony space. The company is active in Italy as well as Ireland and shareholders – including the Iveagh family and entrepreneur Dylan Collins – have invested around €800,000 in the venture.

Blue Face Ltd, established in 2005, has also received payments of €330,000 from Enterprise Ireland.

Blueface employed 24 people in 2014/15, on average pay of €34,400 per annum. The two directors shared €183,000 in remuneration.

Net assets in March 2015 amounted to €1,140,000, including €770,000 of intangibles.

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