Business

Friday 9 December 2016

One Direction rack up record €48.64m profits

Published 12/11/2015 | 22:41

One Direction
One Direction

One Direction increased its profits by more than ten times last year, racking up more than £45m (€48.64m) before tax.

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The former X Factor contestants, who are due to take a break from performing at the end of the year, saw sales double to £73.7m (€79.66) last year, according to accounts lodged at Companies House.

The band paid £10.46m (€11.31m) in tax, meaning each of the five singers - including Zayn Malik who left the band this year - took home £6.98m (€7.54m) in 2014.

The tax bill included overseas duties, and compares to just £1.1m (€1.19) in UK corporation tax paid in 2013.

The accounts, filed under the name 1D Media Limited, were signed off by the band's oldest member and director, 22-year-old Liam Payne. They were audited by Grant Thorton.

Current band members Harry Styles, Liam Payne, Louis Tomlinson, and Niall Horan, announced they would take a break from touring and pursue solo careers from March 2016.

Telegraph.co.uk

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