Paul O’Connell firm boosts accumulated profit to €1.57m

Gordon Deegan Accumulated profits at the commercial firm owned by Irish rugby legend Paul O’Connell last year jumped by almost €200,000 to €1.57m.

Accumulated profits at the commercial firm owned by Irish rugby legend Paul O’Connell last year jumped by almost €200,000 to €1.57m.

That is according to new accounts which show that the cash pile at O’Connell’s Nellcon Ltd fell from €1.274m to €979,930 in the 12 months to April 30.

Mr O’Connell retired from the game in 2016 after sustaining a severe hamstring injury in the 2015 World Cup game against France.

He commenced a coaching role with the Irish under-20s this year but away from the pitch, the accounts show that Mr O’Connell was busy in the commercial world with his firm doubling profits last year.

The accounts show it posted profits of €190,185 last year, after posting profits of €72,534 in 2016.

The directors of the firm are listed as Paul O’Connell and Michael O’Connell. The aggregate pay to directors last year increased from €36,158 to €93,563.

The amount owed by the firm to directors last year increased from €60,082 to €78,840 and the company has €75,000 in investments.

The former University of Limerick student benefited from his professional playing career coinciding with a boom in the finances of the IRFU. A Government scheme also allows key sports people at the end of their careers to claim back 40% of the tax they paid over a 10-year period.

Players are able to claim tax back on wages and match bonuses, but it does not include sponsorship money, payments for media, or fees for appearing in advertisements.