Christy Moore is no “ordinary man” as accumulated profits at his music firm increased to €3.18m this year.
The singer-songwriter celebrated his 80th birthday in May and new accounts show that Moore’s Yellow Furze Music Ltd recorded post tax profits of €607,270 in the 12 months to the end of March this year on the back of sell out gigs across the country and a best-selling album.
The €607,270 post tax profit is a 30.5% profit increase on the post tax profit of €465,214 for fiscal 2024 which in turn was marginally ahead of the post tax profit of €460,635 for fiscal 2023.
The bumper year for Yellow Furze Music this year resulted in its accumulated profits increasing from €2.57m to €3.18m.
The company’s cash funds increased by €616,322 from €1.78m to €2.40m.
The principal activity of the company is the sale of music performances and recordings by Christy Moore while the firm holds rights which generate royalty income.
Company revenues were boosted during the year by sales of Moore’s critically acclaimed album “A Terrible Beauty”, which reached number one in the Official Irish Album Charts last November – Moore’s first number one album in seven years.
The release of “A Terrible Beauty” arrived 56 years since Moore’s debut album “Paddy On The Road”.
The performer – who has been entertaining audiences in Ireland and the UK across the past six decades – is best known for his “Ride On” and “I’m An Ordinary Man” anthems.
The company’s coffers were boosted during the year under review when Moore performed a string of gigs at Vicar Street in Dublin and tickets are due to go on sale this Friday for 11 gigs at Vicar Street on selected dates from November to March 2026.
The firm employs three people including directors and last year pay to directors increased marginally from €133,720 to €160,106.
The accounts – signed off on September 4 – state a daughter of directors Christy Moore and Valerie Moore is an employee of the company and during the year, the worker received pay of €32,500.
Moore is also well known as a founding member of Moving Hearts and Planxty.
The figures show that the firm has tangible assets valued at €906,655 that includes an investment property.
Company figures show that the wealth of the firm has increased in recent years – its accumulated profits have grown from €524,172 to €3.1m over the past number of years.
The strong profits of the last two years compare to a loss-making 2021-20 when the music firm was plunged into the red due to the Covid-19 pandemic shutting down the live music industry.
Moore’s Yellow Furze Music Ltd recorded a post tax loss of €146,460 in the 12 months to the end of March 2021.
Reporting by Gordon Deegan
