Accumulated profits at Katie Taylor's firm jump to over €1.5m

Accumulated profits at Katie Taylor's firm jump to over €1.5m

By Gordon Deegan

The move by Katie Taylor into the professional boxing arena is paying off as accumulated profits at her commercial firm passed the €1.576 million mark last year.

Taylor is one of the country's most popular sports-stars and new accounts show that the Olympic gold medal winner and current unified lightweight professional World Champion is reaping the benefits of turning professional.

The accounts for KT Sports Ltd, just lodged the Companies Office, show that accumulated profits at the firm increased by €110,075 going from €1.46m to €1.57m in the 12 months to the end of June last.

During the year, the cash pile at the firm jumped from €1.247m to €1.38m.

The profit of €110,075 last year followed profits of €262,180 in 2016, €250,000 in 2015; €303,931 in 2014 and €180,996 in 2013.

The 31-year-old turned pro in October 2016 and to date, Katie has won the WBA female title in 2017 and the IBF title since April of this year.

Katie’s mother, Bridget Taylor sits on the board of the firm with her daughter.

The figures show that in spite of the rising profits at the company, the pay to the two directors is relatively modest.

The accounts show that the amount paid out to the two directors last year totalled €59,061 and this followed a payout of €52,828 in 2016.

At the end of June last, the firm owed €40,008 in various taxes including €24,102 in VAT, €14,634 in corporation tax and €1,272 in PAYE and social welfare.

Katie has launched her own range of KT Apparel seeking to capitalise on her popularity here.

The boxer is the sole shareholder of KT Sports, which was founded in 2009, three years after she won her first gold in the European amateur championships in Poland.

Across her amateur career, Taylor has won 17 gold medals - Taylor had fought as an amateur since her first officially sanctioned fight aged 15 in 2003.

Underlining the fortune that Katie’s exploits in boxing has produced, the first set of available accounts for the firm, which cover the period from April 2009 to June 2010, show that it made a profit of just €678 that year.

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