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Thursday 8 December 2016

Gaybo's media firm has a late, late surge of €550,000

Gordon Deegan

Published 08/08/2015 | 02:30

Gay Byrne
Gay Byrne

Ireland's most celebrated broadcaster, Gay Byrne, has left his financial troubles well behind with him with accumulated profits at his media firm last year jumping past the €550,000 mark.

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The filings lodged by Byrne's Gabbro Ltd with the Companies Office show that even in his 81st year and in semi-retirement, Gaybo was running a very profitable media business through his work with RTÉ.

The new accounts show that profits at the firm in the eight months to the end of December last jumped by €52,223 going from €502,358 to €554,581.

This followed the firm recording an €87,571 jump in profits in the 12 months to the end of April 2014.

The accounts show that in the eight months to the end of December, the cash pile at the firm increased from €360,816 to €413,391.

In addition, the firm also had financial assets valued at €153,819.

Byrne celebrated his 81st birthday on Wednesday and his broadcasting continues to make waves - his 'Meaning of Life' interview on RTÉ with Stephen Fry earlier this year generating just under seven million views on YouTube.

The strong performance by Byrne's Gabbro in recent years follows the bust when his pension was wiped out.

In an interview in 2011, Byrne said: "I never had a pension in RTÉ so we invested in what we believed were blue chip stocks, AIB, Bank of Ireland, Anglo - and all of that has been wiped out."

Irish Independent

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