Tuesday 28 February 2017

Firm performs well above par for G-Mac as profits soar to €12.7m

Gordon Deegan

Graeme McDowell
Graeme McDowell

Profits at the commercial firm owned by Graeme McDowell soared to €12.7m last year in spite of the star golfer having patchy form on the course.

New accounts show that accumulated profits jumped by $2.45m to $14.3m (€12.7m) at G-Mac's Boyport Services Ltd in the 12 months to the end of December last.

During 2015, the cash pile at the Portrush man's firm increased from $4.18m to $5.1m while the value of investments at the firm jumped from $6.8m to $7.2m.

The value of the firm's tangible assets also increased from $1.58m to $2.29m.

The jump in fortunes for the 2010 US Open winner came in spite of mixed form on the golf course in 2015.

The prize money McDowell won on the sporting circuit on the PGA tour in the US last year decreased sharply from $2m in 2014 to $686,438.

However, he has rebounded quickly this year, scooping $2.59m in prize money on the PGA tour - including one tour win.

McDowell picked up the sport at the age of seven and the long hours on the course have paid off handsomely with US PGA prize money to date of $14.7m.

On the European tour, McDowell has accumulated €18.8m in prize money on that tour including 10 wins across his career.

Irish Independent

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