Accumulated profits at Tommy Bowe Sports Ltd top €420k

The sports firm run by Ireland rugby international Tommy Bowe had accumulated profits of over €420,000 as of the end of last March, newly filed accounts show.

The accounts, filed with Companies House in London, show Tommy Bowe Sports Ltd increased profits by just under £100,000 (€119,000) in its last financial year.

The Ulster and Ireland winger has just returned to playing after a long injury layoff, but his off-field business activity has shown no sign of slowing down.

However, the amount his company owed to creditors increased, during its latest financial year, from £50,277 to nearly £590,000.

The company’s cash pile more than doubled to £102,136 and money owed by debtors reduced from £81,240 to £13,823.

The accounts confirm Mr Bowe also invested during the year, adding a tangible asset with a book value of £866,534.

Over the past few years, Mr Bowe has had a lucrative deal with Co Monaghan-based shoe firm Buddha Brand.

A breakdown of the latest accounts show Mr Bowe’s Lloyd & Pryce footwear range accounted for nearly 30% of the company’s €9.3m revenues, while the XV Kings clothing and lifestyle wear range contributed just under €1.4m to sales.

The 32-year old Co Monaghan man’s current three-year contract with the IRFU extends to June 2018.

Prior to embarking on his professional rugby career, Mr Bowe represented Monaghan at U16 and minor level in Gaelic football.