Cheryl's firm hits high note with €2.1m profit
THE Irish-based entertainment firm owned by pop star Cheryl Cole enjoyed a stellar year in 2012, recording post-tax profits of over €2.1m.
New accounts from Limerick-based Tara Entertainments show that the firm recorded profits of £1.76m (€2.1m) between November 11 in 2011 and the end of last year. The figures lodged with the Companies Office show that the firm's cash pile at the end of last year stood at £2.23m.
The firm owed £251,824 in corporation tax at the end of last year with the company a subsidiary of the dormant UK firm, CC Entertainments International Ltd.
The accounts confirm that part of the firm's revenues were last year generated by performance and concert income.
The firm's income was boosted last year by Cole releasing her third album, 'A Million Lights' in June 2012 with the lead single from the album, 'Call my Name' selling 152,000 copies in its first week. Cole's first solo tour also added to the firm's coffers last year.
The firm is wholly owned by Cheryl Cole with the company established in Ireland through its links with Limerick-based accountant Alan McEvoy's firm, Live Wire Business Management (LBM).