Riverdance posts a drop of 45% in operating profits in 2017

The firm behind Riverdance posted a drop of 45% in operating profits in 2017, new accounts show.

Operating profits at Abhann Productions Ltd fell to €1.26m in the 12 months to the end of June in 2017.

It also posted a pre-tax loss of €289,281 after an exceptional cost of €1.54m relating to the writing off of inter-company advances.

Since its launch, 25 million people around the world have seen Riverdance.

The show celebrates its 25th anniversary next year, which will be marked by performances in Beijing’s Bird’s Nest stadium, Radio City Music Hall in New York, as well as at the 3Arena in Dublin.

Riverdance executive producer Julian Erskine said that in 2017, 495,000 fans saw Riverdance perform in China, North America, Scandinavia, Germany, Belgium and at the Gaiety Theatre in Dublin.

It sold 300,000 tickets during a 60-city tour in North America and 90,000 tickets during the 10-week tour of China.

In 2018, 353,000 people paid to see Riverdance, with most tickets sold in North America.

Riverdance will take a break from international touring this year but will play at Irish venues.

Producers Moya Doherty and John McColgan have overseen the worldwide success of Riverdance since 1995.

‘Be fearless in the pursuit of what sets your soul on fire.’ #TuesdayThoughts pic.twitter.com/Tfoi4sYZW6

— Riverdance (@Riverdance) January 8, 2019

The two sit on the board with David Orr. The Abhann Productions accounts show that a total of seven directors shared directors’ pay of €81m between 2000 and 2017.

Most of the pay would have gone to Ms Doherty and Mr McColgan, who own the company.