Covid lands blow on Katie Taylor’s commercial business

KT Sports invests in three properties worth €750,000 and retains ‘healthy’ cash balance

Katie Taylor in action against Miriam Gutierrez last  year. The Irish boxer’s accounts note that her online store continued to operate throughout the pandemic. Photograph: Mark Robinson/©INPHO

Katie Taylor in action against Miriam Gutierrez last year. The Irish boxer’s accounts note that her online store continued to operate throughout the pandemic. Photograph: Mark Robinson/©INPHO

 

The Covid-19 pandemic has put a halt to years of strong profits by Katie Taylor’s commercial firm. New accounts filed by the Olympic gold medal winner and current undisputed world lightweight champion’s KT Sports Ltd show that it recorded a loss of €46,392 in the 12 months to the end of last June.

However, they show that the company snapped up three investment properties during the year with a combined book value of €754,850.

The pandemic impacted business over the final four months of the financial year. A note attached to the accounts states that some activities of the company “were paused” as a result of the initial Covid pandemic lcokdown.

The note states that, although this led to a loss in 2020, the business had net assets of €1.74 million at the end of June last.

Taylor is one of the country’s most popular sports stars and the accounts note that her online store continued to operate throughout the pandemic.

The loss last year follows years of consistent profits. However, it maintains a healthy cash balance even after buying three investment properties during the year from cash reserves.

Taylor (34) sits on the board of KT Sports with sister Sarah Taylor. Directors’ pay last year increased marginally from €44,770 to €48,210.