Friday 30 September 2016

Fowl play pays off for Colfer as author's accumulated profits hit €3m

Published 14/07/2016 | 02:30

Author Eoin Colfer
Author Eoin Colfer

Ireland's best-selling children's author, Eoin Colfer added further to his fortune last year with accumulated profits at his firm topping €3m.

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The former Wexford primary school teacher has sold over 25 million books translated into 44 languages around the globe about the adventures of his teenage criminal mastermind, Artemis Fowl.

Accounts filed by Mr Colfer's firm, Artemis Fowl Ltd, show that accumulated profits jumped from €2.62m to €3m in the 12 months to the end of December last.

Accumulated profits increased by just under €800,000 to €2.622m in 2014.

The cash pile at the firm during 2015 decreased from €2.6m to €1.68m.

The drop in cash at the firm is partly explained by Mr Colfer investing over €1.1m in financial assets during the year.

The nature of the financial assets is not disclosed but following the investment, the value of the firm's financial assets last year increased from €201,918 to €1.35m.

Mr Colfer sits on the board with his wife, Jackie, and remuneration for directors last year decreased from €150,791 to €101,620. Last year, it was announced that Mr Colfer is to write a new instalment of the 'Iron Man' series after receiving the prestigious commission from Marvel Comics.

Mr Colfer has set the book in Ireland with Iron Man Tony Stark attending an international eco-summit in Dublin.

'Iron Man: The Gauntlet' is due for release in October of this year.

Mr Colfer finished the book last January and said at the time: "It's really nice to see my name with the famous Iron Man armour underneath it."

After the author was approached to write the book, he set only one condition - that it be set in Ireland. Mr Colfer continued with his prolific output last year with the publication of the latest instalment of his Warp series, 'Warp 3 - The Forever Man'.

Mr Colfer - who celebrated his 51st birthday last May -published the eight and final book in the best-selling Artemis Fowl series in 2012.

However, this finances have continued to flourish since with accumulated profits at his firm increasing from €713,201 in 2012 to €3m to last year. Mr Colfer resigned from his teaching post after the success of the debut Artemis Fowl in 2001.

GORDON DEEGAN

Indo Business

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