Profits grow at Heaslip firm

Accumulated profits at the firm owned by former Irish rugby captain Jamie Heaslip more than doubled to €135,235 last year.

Profits grow at Heaslip firm

In 2014, the IRFU broke its pay structure to keep the Leinster No 8 in Ireland after he signed a new deal believed to worth more than €1.5m over three years.

Now, new figures just lodged with the Companies Office show that accumulated profits at Mr Heaslip’s Sabra Management Ltd increased from €69,186 to €135,235 in the 12 months to the end of last June.

Mr Heaslip who is currently sidelined with injury has extended his business interests in recent years and the value of the 33-year-old’s investments in his Sabra firm is valued at €76,430.

Cash held by the firm last year increased from €11,502 to €19,913 while the amount owed by debtors to the firm climbed to €108,376.

Along with Ireland and Leinster rugby stars Rob and Dave Kearney and Sean O’Brien, the Co Kildare native has a shareholding in The Bridge 1859 pub in Ballsbridge, located a short distance from the Aviva Stadium

The pub — formerly called Bellamy’s — was acquired by Noel Anderson and the four rugby stars have minority stakes in the venture.

The Bridge 1859 bought a restaurant next door to extend the pub’s dining area.

The most recent accounts show that the business recorded profits of €259,865 in the 12 months to the end of February 2016.

Mr Heaslip also has an 18% share in the LD Lovin Dublin Ltd that was also established in 2014.

The firm is behind the Lovin Dublin publication that celebrates the City of Dublin, the food that the city has to offer and the people that help shape it.

Separate accounts lodged by Mr Heaslip’s LD Lovin Dublin Ltd show that its accumulated losses increased from €289,101 to €401,202 in 2015. Staff costs totalled €382,175 for the year.

When he retires, Mr Heaslip will be able to avail of the Government’s scheme for retired sports players that allows them to claim back a 40% tax deduction on their gross earnings from sports activity over a 10-year period.

The claw back includes wages and match bonuses but does not include sponsorship money, payments for writing media columns or fees for appearing in advertisements.

The scheme costs the Government €300,000 a year to operate.

More in this section

Lunchtime News Wrap

A lunchtime summary of content highlights on the Irish Examiner website. Delivered at 1pm each day.

Sign up
Revoiced
Newsletter

Our Covid-free newsletter brings together some of the best bits from irishexaminer.com, as chosen by our editor, direct to your inbox every Monday.

Sign up