Singer-songwriter, Christy Moore continues to ‘Ride On’ with show-stopping profits as accumulated profits at his entertainment firm surged to €2.57 million this year.
New accounts show that Moore’s Yellow Furze Music Ltd, on the back of a string of sell-out gigs across the country, recorded post-tax profits of €465,214 in the 12 months to the end of March this year.
The €465,214 post tax profit is marginally ahead of the €460,635 post tax profit in the prior year.
The buoyant year enjoyed by the firm resulted in the company's cash funds at the firm increasing by €493,490 from €1.29m to €1.78m.
The principal activity of the company is the sale of music performances and recordings by Christy Moore and the profits last year takes account of non-cash goodwill amortisation costs of €57,695.
The performer - who has been entertaining audiences in Ireland and the UK across the past five decades and is due to celebrate a milestone 80th birthday next year - is best known for his hits Ride On and Ordinary Man.
Underlining the veteran performer’s enduring appeal, Moore’s website shows that every scheduled gig between August 17th at the National Opera House in Wexford to the TF Royal Theatre in Castlebar on October 19th next - nine in total - has the 'house full’ sign up.
The company’s coffers were boosted during the year by Christy Moore selling out six gigs at Vicar Street in November and December 2023. He performed a further five gigs at the venue in January of this year.
The firm employs three people, including directors, and last year's pay to directors increased marginally from €128,155 to €133,720.
The accounts - signed off on July 17th - state a daughter of directors, Christy Moore and Valerie Moore, is an employee of the company and during the year, the worker received pay of €30,000 and this followed pay of €30,000 in the prior year.
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 that the firm has tangible assets valued at €905,923, which includes an investment property.
Company figures show that the wealth of the firm has increased in recent years - its accumulated profits have grown from €524,172 to €2.5m over the past number of years.
The strong profits of the last two years compare to a loss-making 2021-20 when the music firm was plunged into the red due to the Covid-19 pandemic shutting down the live music industry.
Moore’s Yellow Furze Music Ltd recorded a post-tax loss of €146,460 in the 12 months to the end of March 2021.
