One Direction’s cash more than doubles to €2.3m to end 2012

Accumalated profits increase 45-fold

Co Westmeath's Niall Horan and the other four members of boy band One Direction had £2.3 million (€2.7 million) in cash at the end of last year, according to accounts for their main entertainment company. The Mullingar man only celebrated his 20th birthday last month.

The second annual accounts for 1D Media Ltd show that the band's cash more than doubled from £1 million to £2.312 million at the end of December last. The abridged accounts filed at the Companies House in the UK show that the firm's accumulated profits increased 45-fold from £18,465 to £837,217 reflecting a hectic and profitable year for the band.

Separate accounts lodged by another band firm, PPM Music Ltd show that the firm recorded profits of £40,060 at the end of December last.

One Direction plays three gigs in Croke Park next May.

Gordon Deegan

Gordon Deegan

Gordon Deegan is a contributor to The Irish Times