Keating Entourage firm records profits

While the media focus on singer Ronan Keating last year seemed more on his personal life than his music career, the entertainment firm co-owned by the singer continued to record profits.

The cash held by Keating's Entourage Management Agency Ltd last year climbed by €13,773 to €218,709 at the end of August 31st, 2012.

As a solo artist, Keating (36) has sold over 25 million records worldwide alongside the 30 million records with Boyzone. Keating performs at Kingsholm Stadium in Gloucester tonight as part of his current UK tour and will play the O2 in Dublin in November.

The former Boyzone singer separated from his wife, Yvonne, last year, having officially announced their split in April 2012. However, the returns show that Yvonne continues to own 50 per cent share of the firm.

The firm derives its income from live performance and related broadcast income and the abridged accounts show that the company strengthened its balance sheet in the 12 months to the end of August 2012.

This followed the firm’s accumulated profits increasing from €11,797 to €18,365.

The firm’s accounts are overseen by Limerick-based showbiz accountants, Live Wire Business Management (LBM) that also counts Cheryl Cole, Boyzone and JLS among its clients.

LBM’s Alan McEvoy also sits on the board of Entourage Management Agency Ltd.

As the accounts are abridged, the information they provide is limited and does not include a profit-and-loss account or if any dividends were received by the Keatings during the year.

The returns show that the company paid income tax and PRSI last year of €8,568 compared to €45,851 in 2011.