Profits at the company behind Shamrock Rovers last year tripled to €1.5 million as the club’s finances benefited from the Dublin side being crowned League Champions of the League of Ireland in 2022.
New accounts filed by Shamrock Rovers FC Ltd with the Companies Office show that the club recorded post-tax profits of €1.577 million last year and this follows post tax profits of €409,753 in 2021.
The club won the League of Ireland title for the third year in a row last year and are on course to clinch this year’s Premier Division league title this coming Friday.
The success on the playing pitch last year coincided with Shamrock Rovers FC Ltd’s cash funds increasing by more than €1 million to €2.88 million.
At the end of last December the firm's shareholder funds totalled €1.57 million.
The club firm managed to record the sharp jump in profits last year despite the numbers of professional footballers increasing from 33 to 38.
Numbers employed by the company increased overall from 55 to 62.
The abridged accounts don't provide a revenue total for the year.
First team performance
According to the directors’ report, the company’s income is affected by the performance of the first team.
They state that “a significant proportion of the company’s income is derived from strong performances in the various competitions that the football club competes in.”
The directors state that the company seeks to maintain the success of the first team by investing in a strong management team and attracting talented employees.
On the club firm’s future prospects, the directors state that they are optimistic as to the future prospects of the company as it continues to pursue its operational targets.
The directors state that 2022 was another excellent year for Shamrock Rovers Academy Ltd with significant progress on all key performance indicators.
The directors state that two academy players moved abroad in 2022 with significant compensation fees earned and the potential for performance-based payments to be received in the future.
The directors state that of note was the contribution to the football club’s financial performance in 2022 were the follow-on payments received for academy graduate and Republic of Ireland international keeper, Gavin Bazunu.
The accounts disclose that during the year, the directors agreed to write down the value of a loan due from Shamrock Rovers Academy Ltd by €700,000.
