O’Donnell on song as profits top €3m

Accumulated profits at the main entertainment firm owned by Donegal singer Daniel O’Donnell last year topped the €3m mark.

The veteran entertainer’s new accounts show that his firm, DOD Promotions Ltd, recorded profits of €215,554 last year.

However, next year’s financial performance will not be as strong, as O’Donnell, 52, announced that he will be taking an extended break from music from February 2015.

The new accounts filed by O’Donnell’s firm show that the company’s accumulated profits increased from €2.79m to €3m in the 12 months to October 31, 2013.

A household name in Ireland and Britain for three decades, accounts show O’Donnell’s cash pile at DOD Promotions last year decreased from €1m to €875,452.

The firm’s 2012 accounts show it wrote down its fixed-asset investments from €2.6m to €500,000.

A major contributor to the wealth of DOD Promotions is the singer’s own touring company, Brockwell Ltd. DOD Promotions Ltd and Daniel O’Donnell charged a total of €795,720 to Brockwell Ltd in 2012 and Brockwell owed DOD Promotions and Daniel O’Donnell €1m at the end of December 2012.

The abridged accounts for DOD Promotions Ltd do not provide a turnover figure. However, it discloses that last year it paid €131,597 in corporation tax.

Latest accounts for Brockwell Ltd show it had accumulated profits of €2m at the end of December 2012 and had cash of €989,373.

During his career O’Donnell has sold more than 10m records and in 2012, received the Freedom of Donegal.