Sunday 25 September 2016

McCoy firm's profits jump even higher to €2.8m

Gordon Deegan

Published 24/05/2016 | 02:30

Record profits for company of racing legend Tony McCoy
Record profits for company of racing legend Tony McCoy

Retired champion jockey Tony McCoy can console himself with his retirement from the sport with accumulated profits at his firm jumping to €2.85m last year.

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The 20-time champion jockey retired last year after an illustrious career in the sport.

New accounts at McCoy's AP Enterprises Ltd show that profits jumped by £525,941 (€681,089).

The new figures just filed with Companies House in the UK show that accumulated profits at the firm jumped from £1.67m to £2.2m.

The value of the firm's investments last year jumped from £969,281 to £1.3m.

The record profits at the firm last year followed profits increasing by £384362 in 2014, £297,528 in 2013 and by £281,350 in 2012.

The firm's cash pile increased from £14,978 to £102,899 in the 12 months to the end of May 31st last.

The firm also had investments totalling £105,619 in Burke & McCoy EOOD, a land investment company in Bulgaria that is controlled by Mr McCoy's wife, Chanelle Burke.

The accounts show that at the end of May 31st last, the company was owed £724,674 by Tony McCoy - up from the £673,402 owed to it at the end of fiscal 2014.

McCoy (42) was the biggest name in jump racing before retiring last year and in recording his record number of wins across his career, McCoy has broken almost every bone in his body, including two lower vertebrae, both shoulder blades, his cheekbones, ribs, tibia, fibula, wrists and collarbone.

In November 2013, McCoy broke the 4,000 barrier when riding the Jonjo O'Neill-trained 'Mountain Tunes' in the colours of owner JP McManus to victory at Towcester.

The Moneyglass man was injured so many times that he could self diagnose what injuries he sustained - after a fall at Cheltenham in 2013, McCoy correctly told the medics in the ambulance that he had punctured his lung, broke his sternum and some ribs.

The company filings confirm that McCoy - a former winner of the RTE and BBC Sports Personality of the Year - serves as managing director of AP Enterprises Ltd where he is the sole shareholder.

His firm generates its income from retainership, investment properties, sponsorship, royalties and the writing of books.

Announcing his retirement last year, McCoy said: "I want to go while I'm still enjoying racing and while I am still near the top. This is without a doubt the hardest decision I've ever had to make. I've been dreading this day."

Irish Independent

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