€1.38m in accumulated profit at Paul O’Connell firm

Accumulated profits at the commercial firm owned by Irish rugby legend Paul O’Connell during the final year of his illustrious playing career climbed to €1.38m.

€1.38m in accumulated profit at Paul O’Connell firm

That is according to new accounts which show that the cash pile at O’Connell’s Nellcon Ltd fell slightly from €1.28m to €1.27m in the 12 months to the end of April last year. Nellcon was set up in 2005.

The player retired from the game last year after sustaining a severe hamstring injury in the World Cup 2015 game against France.

Off the pitch, the accounts show that O’Connell was busy in the commercial world with his firm investing €75,000 in a financial asset during the year.

Accumulated profits increased by €72,534 to €1.38m in the year. The directors of the firm are Paul O’Connell and Michael O’Connell. The aggregate pay to directors last year increased from €21,000 to €36,158.

The amount owed by the firm to directors last year increased from €46,695 to €60,082. O’Connell won a total of 108 caps. His retirement early last year led to tributes from rugby greats across the world.

The playing career of the former University of Limerick student benefited from an upsurge in fortunes in Irish rugby.

A Government scheme allows key sports people at the end of their careers to claim back some of the tax they paid in previous years.

The scheme does not include claiming on sponsorship money, payments for writing media columns or fees for appearing in advertisements.

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