Champion jockey Tony McCoy has even more reason to smile today with new accounts showing that profits at his firm last year rocketed by €540,000.
The 19-time champion jockey enjoyed his first 2015 Cheltenham win yesterday in what will be his last festival before his retirement later this year after a stellar career on the racecourse.
Figures just filed with the Companies House in the UK show that the 40-year-old’s retirement will be softened somewhat by the €2.3m profits he has accumulated at his firm.
AP Enterprises Ltd had a bumper year on and off the racecourse last year, with accumulated profits increasing by £384,362 (€539,690), from £1.29m to £1.67m (€2.3m), in the 12 months to the end of May last year.
Assets at his firm more than doubled as the amount owed to the firm by debtors rose sharply, from £381,148 to £893,035.
Profits had increased by £297,528 in 2013 and by £281,350 in 2012.
The firm’s cash pile, however, fell from €71,004 to €14,978 last year. The cash pile at the start of fiscal 2013 stood at £281,350. Shareholder funds increased by £384,362, from £1.375m to £1.677m, last year.
A large contributor to the increase in profits was £470,000 realised on a disposal of an investment property during the year.
The firm also had investments totalling £105,619 in Burke & McCoy EOOD, a land investment company in Bulgaria that is controlled by McCoy’s wife, Chanelle Burke.
© Irish Examiner Ltd. All rights reserved