Van Morrison’s entertainment company posts pre-tax profits of €4.1m

Accumulated profits fall of 37% indicates sizeable dividend payment

Belfast musician Van Morrison’s main entertainment company   recorded pre-tax profits of  €4.1 million

Belfast musician Van Morrison’s main entertainment company recorded pre-tax profits of €4.1 million

 

Van Morrison’s main entertainment company has recorded pre-tax profits of £3.63 million (€4.1 million).

Accounts for Mr Morrison’s Exile Productions Ltd show that the £3.63 million pre-tax profit recorded in the 12 months to the end of April last is a 37 per cent drop on the pre-tax profits of £5.76 million (€6.56 million) in 2017.

The company recorded a post-tax profit of £2.77 million (€3.15 million) in 2018 after paying corporation tax of £855,987 (€974,960).

The accounts filed by Exile Productions to the UK Companies House show that accumulated profits decreased from £7.1 million (€8 million) to £6.9 million (€7.8 million) in 2018 indicating a sizeable dividend payout.

In the 12 months to the end of last April, the firm’s cash pile increased by £995,000 (€1.13 million) to £4.47 million (€5 million) while the money owed to the firm by debtors decreased from £4.97 million (€5.66 million) to £4.188 million (€4.76 million).

Achievements

The abridged accounts for the Mr Morrison’s firm don’t reveal the revenues recorded by the firm during the year.

Knighted in 2016 for his musical achievements and services to tourism and charitable causes in Northern Ireland, “Sir Ivan’s” creative energy shows no sign of slowing down as he released three studio albums in the period under review.

The Northern Ireland man released Roll with the Punches in September 2017 and his 38th studio album, Versatile, in December 2017.

On April 27th, 2018, Mr Morrison released the You’re Driving Me Crazy in collaboration with Joey DeFrancesco.

Mr Morrison is currently busy adding to his company’s coffers where he is performing at the Wiltern Theatre in Los Angeles on February 6th and will perform at The Colosseum at Caesar’s Palace in Las Vegas on February 8th and 9th.

Mr Morrison will follow up with gigs in London next month and in Chicago in April.

Next month, Mr Morrison will release a deluxe edition of his acclaimed 1997 album, The Healing Game.

The intensely private Mr Morrison has received widespread acclaim over his long career including six Grammy Awards, a Brit Award for Outstanding Contribution to Music, being inducted into both the Rock and Roll Hall of Fame and the Songwriters’ Hall of Fame.