Pre-tax profits at veteran performer’s music firm hit €174k

He may be “an ordinary man”, but documents show singing legend Christy Moore’s music firm is sitting on a cash pile of almost €700,000.

Filings lodged with the Companies Office show that 2011/12 has been a very successful time for the veteran performer as pre-tax profits at his Yellow Furze Music Ltd firm last year totalled €174,914.

The company’s accumulated profits increased by €175,474 from €524,172 to €699,644 in the 12 months to the end of Mar 31 this year (2012).

The filings show the cash pile at Moore’s music firm increased from €554,754 to €696,695 during the year.

The returns state that the principal activity of the company “is the sale of music performances and recordings by Christy Moore”.

The songwriter — who has been entertaining audiences in Ireland and the UK across the past five decades — is best known for his ‘Lisdoonvarna’, ‘Ordinary Man’ and ‘Ride On’ anthems.

During the year under review, Moore joined Coldplay on stage at the 2011 Oxegen festival to perform ‘Ride On’.

Moore is also well known as a founding member of Moving Hearts and Planxty and the accounts confirm that during the year, Yellow Furze Music Ltd acquired rights which will generate royalty income — the figures show that during the year €750,000 was spent by the firm on acquiring an unidentified intangible asset.

The increase in profits at the firm this year follows a sharp drop in profits at the company in the year to the end of Mar 2011 when profits dropped from €873,097 to €524,172 with its cash decreasing from €802,229 to €554,745.

More than 40 years after going on in the road, the folk singer’s concerts in Ireland and Britain continue to sell out.