One Direction rack up €1.23m in first year after formation

Boy band One Direction, including Niall Horan from Westmeath, were sitting on over £1m (€1.23m) in cash at the end of last year, new figures show.

The Mullingar teenager only celebrated his 19th birthday on Thursday but the first annual accounts for One Direction’s main entertainment company, 1D Media Ltd, show that the band’s cash pile stood at £1.041m at the end of Dec 31.

The five-member band built up the cash reserves after forming during the 2010 X Factor series.