Van Morrison firm posts €1.6m pre-tax profit
Van Morrison’s main entertainment firm posted a pre-tax profit of almost £1.4m (€1.6m) last year, new accounts show.
Exile Productions Ltd show the 74-year old singer-songwriter’s profit for the 12 months to the end of April was down from £3.6m for the previous financial year and from £5.7m for 2017.
It had a post-tax profit of £873,475 in the latest year, after paying corporation tax of £516,982. Accumulated profits increased to over £7.6m, from £6.9m at the end of April.
During the same period, the firm’s cash pile increased to £6.1m, while the money owed to the firm fell sharply to £2.2m. The abridged accounts for the Morrison firm don’t reveal the revenues recorded by the firm during the year.
He shows no sign of slowing his creative output, having recently celebrated the release of the album Three Chords and the Truth on November 29. It includes a duet with Bill Medley, of the Righteous Brothers.
Van Morrison added to his coffers over the past year with a busy touring schedule and two releases. The intensely private Van Morrison has received widespread acclaim over his long career, including six Grammy Awards, and a Brit Award for Outstanding Contribution to Music.
