Profits at Christy Moore’s music firm top €1.24m

Irish singing legend Christy Moore hit the right notes last year with his music firm’s accumulated profits topping the €1.24m mark.

Profits at Christy Moore’s music firm top €1.24m

New accounts show that Moore’s firm, Yellow Furze Music Ltd, recorded pre-tax profits of €180,551 last year.

This followed income from Moore’s gigs and record sales generating revenues of €438,927 in the year to the end of March.

The principal activity of the company is the sale of music performances and recordings by Moore and the firm’s cash pile last year increased by more than €100,000, from €743,353 to €853,998.

The 71-year old songwriter — who has been entertaining audiences in Ireland and the UK over the past five decades — is best known for his ‘Ride On’ and ‘I’m An Ordinary Man’ anthems.

Pay to directors last year increased marginally to €144,591 and the pay shows Moore had ample money to pay his water-charges.

However, in an interview last year, the singer declared that he had not paid the charge out of principle, stating “Irish Water has been a money-wasting, non-transparent fiasco from the start… our water has been turned into a commodity for profit by people not dissimilar to those who led us to financial meltdown”.

Moore often plays to packed out crowds for various charities and in September played a gig at Vicar Street in Dublin with the proceeds going to the Dublin Rape Crisis Centre.

Moore is also well known as a founding member of Moving Hearts and Planxty and the accounts show that Yellow Furze Music Ltd has rights that generate royalty income — the figures show the firm has unidentified intangible assets valued at €461,438.

Company figures show that the wealth of the firm has increased in recent years — its accumulated profits has grown from €524,172 to €1.24m over the past number of years.

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