Louis Walsh sees his director's pay rise as management firm records a loss

Pop guru, Louis Walsh, last year shared more than €335,000 in wages as a director of his main entertainment firm.

New accounts filed by Walsh’s management company, Brill Management Ltd, show that the company recorded a loss of €369,677 in the 12 months to the end of February this year and this followed a loss of €150,262 in the previous year.

The loss resulted in the company's accumulated profits at the firm last year declining by 89% from €413,971 to €44,294.

The cash reserves at the company also declined from €289,128 to €208,715.

Pay for the two directors, Louis Walsh and Desmond Morris, last year increased by just over 10% rising from €303,610 to €335,470.

The year under review coincided with Walsh leaving the X-Factor after a record-breaking 13 years as a judge on the ITV talent show.

However, Walsh recently confirmed that he will be returning to the next series of the entertainment show which is due on our screens in 2020.

Earlier this month, Walsh didn’t appear to be too concerned over Virgin Media’s decision to axe Ireland’s Got Talent where he worked as a judge for two seasons when he said: "Why would I do local telly when I can do X Factor?

“I've got too much work over here in the UK. I've been offered every single show at the moment, literally every show every day."

Currently, Walsh is masterminding Westlife sell-out reunion tour and the band has just completed a string of sell-out dates in the Far East and this followed the band’s triumphant return to Ireland after two sell-out gigs at Croke Park in early July.

The 67-year-old Kiltimagh man’s Brill Management employed three people last year made up of two directors and one in administration.

At the end of February, the firm owed €265,446 to directors.