Pretax profits at 'Riverdance' production group increase five-fold

A 50 per cent increase in its North American revenues contributed to pretax profits at the group that produces Riverdance increasing five-fold to €1.39 million in 2010.

Accounts just filed by Abhann Productions Ltd and subsidiaries show revenues at the group increased by 33 per cent from €21.2 million to €28.3 million in the 12 months to the end of December 2010. The pretax profit in 2010 of €1.39 million follows a pretax profit of €249,315 in 2009.

The directors of the group are Riverdance co-founders Moya Doherty and John McColgan, along with company secretary Joan Egan.

Mr McColgan and Ms Doherty each own a 50 per cent share in the group. The returns show the Riverdance phenomenon continues to deliver for its creators, with directors’ remuneration increasing by 39 per cent from €1.8 million to €2.5 million in 2010.