Christy Moore's music firm this year returned to profit as music fans flocked back to live venues to see the singer-songwriter perform live once more with the lifting of Covid-19 restrictions.
Now over 50 years on the road, Moore's live music income from Yellow Furze Music Ltd was decimated with the Covid-19 enforced shutdown of the live entertainment industry for almost two years after March 2020.
The principal activity of the company is the sale of music performances and recordings by Christy Moore and now, new accounts for Yellow Furze Music show that the business recorded profits of €121,583 in the 12 months to the end of March this year.
This followed post tax losses of €146,460 in the prior Covid-hit year - a positive swing of €283,043.
At the end of March this year, the firm was sitting on accumulated profits of €1.65m.
Underlining the continuing popularity of Moore, 13 upcoming dates across the island listed on his website are all sell-outs with the 'House Full’ sign up on all the gigs from Leisureland in Galway this Saturday night to his November 18th gig in Dundalk.
Moore is also playing to sell out audiences in Belfast, Bundoran, Westport and Dun Laoghaire during the run.
The firm’s cash funds last year increased by €164,248 from €566,432 to €730,680.
The profit last year takes account of non-cash goodwill amortisation costs of €57,692.
The performer– who has been entertaining audiences in Ireland and the UK across the past five decades – is best known for his ‘Ride On’ and ‘I’m An Ordinary Man’ anthems.
The firm employs three people including directors and last year pay to directors decreased sharply from €124,604 to €76,234.
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 unidentified intangible asset valued at €115,387.
Company figures show that the wealth of the firm has increased in recent years - its accumulated profits has grown from €524,172 to €1.65m over the past number of years.
In the year under review, An Post commemorated Moore’s contribution to Irish music and commenting at the time, Moore said: "I got a right buzz when word came through that An Post had nominated my image to adorn a stamp. My immediate reaction was to think of my grandparents Jack, Ellie and Bridie, how they might be tickled pink at such an outcome."
