Moore’s €1m profit hits all the right notes

Singer Christy Moore hit the right notes last year with his music firm’s accumulated profits nearing the €1m mark.

Filings lodged with the Companies Office show that 2012/13 has been another very successful time for the veteran performer as profits at his music firm, Yellow Furze Ltd, last year totalled €224,480 — an increase of 28% on the profits recorded in fiscal 2012.

Figures show the firm’s accumulated profits rose by €224,480 from €699,644 to €924,124 in the 12 months to the end of Mar 31, 2013.

The filings show that the cash pile at Christy Moore’s music firm decreased from €696,695 to €258,614 during the year.

The principal activity of the company “is the sale of music performances and recordings by Christy Moore”.

The 68-year old songwriter, who has been entertaining audiences in Ireland and Britain over the past five decades, is best known for his ‘Ride On’ and ‘I’m an ordinary man’ anthems.

Moore is also well known as a founding member of Moving Hearts and Planxty and the accounts show that Yellow Furze Music Ltd has rights that generate royalty income — the figures show that the firm has unidentified intangible assets valued at €750,000.

The increase in profits last year follows the firm recording profits of €175,474 in 2012.

The two years of profit at the firm follow 2011 when profits dropped from €873,097 to €524,172 with its cash decreasing from €802,229 to €554,745.

More than 50 years after going on the road, the folk singer’s concerts in Ireland and Britain are still sell-outs. His next Irish gigs — with Declan Sinnott — are due to be held at Sneem at the end of August followed by a gig at the University Concert Hall in Limerick on Sept 27.

Yesterday, the multi-award winning singer, who has been associated with many political and social causes, could not be reached for comment.

Revenues were boosted by Moore playing sell-out gigs across Ireland and Britain with Sinnott.

In 2011, Christy Moore, now a grandfather, released his 25th album Folk Tale, 42 years after the 1969 release of his debut Paddy on the Road album.

Moore shows no sign of letting up with a new album due for release in November and the Kildare-born singer reflecting in his most recent post on his website of recently enjoying some special gigs.