Business Irish

Friday 18 August 2017

Rugby star Heaslip's firm doubles profits to €135,000

Jamie Heaslip
Jamie Heaslip

Accumulated profits at the firm owned by former Irish rugby captain, Jamie Heaslip more than doubled to €135,235 last year.

In 2014, the IRFU broke its pay structure to keep the Leinster | No 8 in Ireland after he signed a new deal believed to worth more than €1.5m over three years.

Now, new figures just lodged with the Companies Office show that accumulated profits at Heaslip's Sabra Management increased by more than 100pc going from €69,186 to €135,235 in the 12 months to June last.

Heaslip - who has been one of Ireland's and Leinster's most consistent performers in recent years but is currently sidelined with injury - has extended his business interests in recent years and the value of the 33-year-old's investments in his Sabra firm is valued at €76,430.

The cash pile at the firm last year increased from €11,502 to €19,913 while the amount owed by debtors to the firm soared from €1,303 to €108,376.

The Co Kildare native had already has a share in The Bridge 1859 in Ballsbridge only a short distance from the Aviva stadium with Ireland and Leinster rugby stars, Rob and Dave Kearney and Sean O'Brien.

The pub - formerly Bellamy's - was acquired by Noel Anderson and the four rugby stars each have a minority shareholding in the venture.

The most recent accounts show that the business recorded profits of €259,865 in the 12 months to the end of February 2016.

Heaslip also has an 18pc share in the LD Lovin Dublin Ltd that was also established in 2014.

The firm is behind the Lovin Dublin publication that celebrates the city of Dublin, the food that the city has to offer and the people that help shape it.

When he retires, Heaslip will be able to avail of the Government's scheme for retired sports stars that allows them to claim back a 40pc tax deduction on their gross earnings from sports activity over a 10-year period.

That includes wages and match bonuses, but does not include sponsorship money, payments for writing media columns or fees for appearing in advertisements.

The scheme costs the Government €300,000 per annum to operate.

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