Christy Moore hits the right note with €1.4m profits

The music company of Irish folk legend Christy Moore had a cash balance of almost €750,000 and accumulated profits of more than €1.4 million in its last financial year, according to its latest accounts.

Moore (70) is a director of Yellow Furze Music Limited, along with his wife, Valerie.

He owns a 99 per cent shareholding in the company, which has filed its annual return to the Companies Office.

The accounts reveal that the firm’s cash pile increased by €183,170 during its last financial year and stood at €743,353 on March 31st, 2015. Accumulated profits during the same period increased by €224,481 to €1,440,251. The company had debtors worth €37,505 and owed €27,118 to creditors, which included VAT and other taxes of €18,151.

Wages and salaries paid to the firm’s two directors and one employee amounted to €176,292, including social welfare costs.

The Kildare native is one of Ireland's best-known singer-songwriters, and was named the country's Greatest Living Musician at RTÉ's People of the Year Awards in 2007. His musical career began in 1969 and he released his most recent album, Where I Came From, in November 2013. The record reached No 3 in Ireland.