Pornography company records €19m profit at Irish arm
The ‘Reality Kings’ group of companies saw turnover drop 15% in 2016
MG Content RK Limited manages and operates websites associated with the ‘Reality Kings’ brand. Photograph: iStock
A Dublin-based company behind a number of pornography websites associated with the “Reality Kings” brand has recorded a gross profit of $22.98 million (€19.12 million), with its directors anticipating “continued profitability”.
Recently filed accounts for MG Content RK Limited show that turnover dropped almost 15 per cent to $42.6 million last year, a result the directors consider to be “satisfactory”.
The company’s operating profit ultimately came in at $2.1 million after it paid administrative expenses of $20.8 million. It paid tax of $253,426, an effective tax rate of 9.2 per cent.
MG Content RK Limited is a subsidiary of the Irish-incorporated MindGeek Ireland Holding Limited, whose ultimate parent company is the Luxembourg-incorporated MindGeek SARL. That firm owns a number of adult websites including Pornhub, Youporn and Brazzers.
The company had one Irish director who resigned in February of this year, with its current directors all based in Cyprus. While the company’s registered office for the period to the end of December 2016 was the same office as the Grant Thornton accountancy firm, the directors noted that the company relocated its management and control functions from Ireland on February 14th, 2017. MG Content RK Limited had no employees in Ireland during the period.