Accumulated profits at boxer Katie Taylor’s commercial firm here last year dipped to €1.6 million as the company recorded a loss.
New accounts filed by the Olympic gold medal winner and current undisputed world lightweight champion’s KT Sports Ltd show that its losses more than doubled to €85,019 in the 12 months to the end of June last.
This resulted in its accumulated profits declining from €1.7 million to €1.61 million.
Covid-19 impacted the business of the firm for the first half of the financial year (July to December 2022). This followed losses of €37,724 in the previous year and a loss of €46,392 in fiscal 2020.
Mortgage holders to see dramatic fall in repayments
The Irish Times Business Person of the Month: Cathal Fay, Yuno Group
The power market should reflect that renewable energy is cheaper
Shed Distillery founder Pat Rigney: ‘We’re very focused on a premium position but also on giving value for money to consumers’
The accounts were filed just days after Taylor lost a professional bout for the first time, being defeated last weekend by Chantelle Cameron in their world super-lightweight title fight at the 3Arena in Dublin.
Katie Taylor fought Amanda Serrano at Madison Square Garden in New York City in April 2022 and the combined purse from her two bouts in 2022 is estimated to be more than $2 million.
According to a report on website Boxing Scene, the sell-out crowd at Madison Square Garden of 19,187 paid $1.45 million to see the Serrano bout.
The cash funds at KT Sports last year increased from €743,244 to €776,070. The company owns three investment properties with a combined book value of €753,901, the accounts show.
The loss of the past three Covid-19 impacted financial years at the company followed a number of years of profit – most recently in 2019 when it made a profit of €174,899.
The 36 year old turned pro in October 2016 and provides a home address at Connecticut in the United States in company documentation. She is also a director of the US based KT Sports USA LLC.
Katie Taylor sits on the board of the Bray-based KT Sports with sister Sarah Taylor and directors’ pay last year decreased marginally from €52,065 to €51,874.
Taylor’s career is being managed by Eddie Hearn’s Matchroom Sport. The group also promotes global darts and snooker events and last year its boxing subsidiary accounted for £11.6 million of its overall profits.
Katie and Sarah Taylor approved their company’s accounts on May 19th. KT Sports was founded in 2009, three years after Taylor won her first gold in the European amateur championships in Poland.
The first set of available accounts for the company, which cover the period from April 2009 to June 2010, show that it made a profit of just €678 that year.
