Accumulated profits at the main Irish-based entertainment firm owned by singer-song-writing phenomenon, Hozier last year increased to €4.24 million.
New accounts filed by Hozier's Haskey Ltd show that the company enjoyed a bumper year as profits for 2021 totalled €293,316.
The profits represent an 18.25% on the profits of €248,035 in 2020.
The profits last year resulted in accumulated profits rising from €3.95 million to €4.24 million.
The new accounts show that the Hozier firm last year spent a large chunk of its €2.6 million cash funds in place at the end of 2020 on financial investments.
During 2021, the firm spent €1.9 million on a financial asset and the move was already beginning to pay off last year with a €75,979 paper gain recorded on the €1.9 million asset in 2021.
The €1.97 million book value in financial investments compared to 'zero' under that heading at the end of 2020.
The investment resulted in a hit on the firm’s cash funds decreasing from €2.6 million to €564,219 at the end of last year.
Last year, directors’ pay totalled €155,379 made up of €105,258 in pay and pension contributions of €50,000 and this compares to total pay of €205,258 in 2020 - made up of €105,258 in pay and €100,000 in pension contributions.
The company recorded the profits in spite of the Covid-19 pandemic decimating much of Hozier’s lucrative live music business last year.
Hozier’s most recent studio album, Wasteland Baby! was released in March 2019 and debuted at Number One on both sides of the Atlantic.
In a message to fans on New Year's Eve last year, Hozier told his almost 1 million followers on Twitter that his new studio album 'Unreal Unearth’ will be released in 2022 "come hell or high water".
Last year, An Post celebrated Hozier’s success by featuring him on an An Post stamp and Hozier commented at the time "it is hands down one of the greatest honours of my life to be featured on an Irish stamp alongside Christy Moore, Lisa Hannigan and Sinead O’Connor".
The profits of last year and 2020 follow profits of €21,289 profit recorded in 2019, €79,592 in 2018, €654,865 in 2017, €1.12 million in 2016 and profits of €1.38 million in 2015.
The accounts show that the book value of the company’s freehold property was €1.4 million at the end of December last.
A note attached to the accounts states that the property asset has not been depreciated as it has not been put to economic use.
The singer song-writer of 'Take me to Church' dropped out of Trinity College Dublin (TCD) to pursue his dream in the music business.
Hozier’s career has been carefully nurtured by Caroline Downey and Denis Desmond.
In 2014, Hozier enjoyed a meteoric rise with his global hit single, ‘Take me to Church’ announced as the most viral track of the year enjoying 87 million streams and named as Spotify’s Spotlight Breakout Star of 2014.
Reporting by Gordon Deegan