Sunday 4 December 2016

Cash pile plummets by €385k at Ronan Keating firm

Gordon Deegan

Published 09/07/2016 | 02:30

Ronan Keating and wife Storm Uechtritz
Ronan Keating and wife Storm Uechtritz

Singer Ronan Keating's rollercoaster ride in the world of entertainment continues with the cash pile at his firm falling last year.

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New figures lodged by Keating's Entourage Management Agency with the Companies Office show that the cash pile fell from €568,171 to €182,442.

In 2014, the firm was able to pay Keating and one other employee €815,000 in salaries, but this declined to €195,000.

Keating is now the sole owner of his entertainment firm after his ex-wife, Yvonne Connolly, transferred her 50pc share to him in 2014.

Ms Connolly has also stepped down as a director of her former husband's Lowmill Ltd firm. Mr Keating also earned an income from Lowmill during 2015 as directors got €80,000 in pay.

The only Lowmill directors are listed as Keating and Limerick-based accountant to the stars Alan McEvoy.

Last year, Keating married again - to TV producer Storm Uechtritz. The singer is adding to his coffers touring his latest album, 'Time of My Life', and will play the Olympia in Dublin in September along with dates in the UK, Germany and Australia. Released last February, it's his first studio album in four years.

Last year, he moved back to Dublin after forging a successful TV career in Australia as a judge on its 'X-Factor' before announcing that he was stepping down to concentrate on his solo album.

As a solo artist, Keating has sold over 25 million records, including his massive hit 'Life is a Rollercoaster' alongside 30 million records with Boyzone.

Entourage derives income from live performances and related broadcast income. The abridged accounts show it strengthened its balance sheet in the 12 months to the end of August 2015. At the end of the period, the firm had accumulated profits totalling €26,489.

Irish Independent

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