€1m turnover for firm selling tickets at eight times value
Published 01/10/2016 | 02:30
The touting firm advertising All-Ireland tickets for eight times the face value recorded a turnover of more than €1m a year.
Needaticket.ie has advertised tickets for today's clash between Dublin and Mayo at Croke Park for €500, up from an original price of €60.
Tickets for the upper and lower tiers of the Davitt Stand came at a cost of €325 and €350 respectively.
When the company's offices were contacted earlier this week, they said tickets were available to buy for the All-Ireland replay. However, they would not be available until the night before or the morning of the match as they were "not ready".
The advertisements for these tickets have since been removed.
Despite having plans to shut the business down in 2014, Needaticket now has a turnover of €1,008,015.
The turnover in 2014 included €303,000 from the selling of sports tickets, and more than €679,000 from the sale of concert tickets
In 2015, the turnover jumped to more than €1m - with a cost of sales listed at €785,000.
This meant that pre-tax profits jumped to €58,000 from €1,200. That was even after directors' pay of €56,000 was accounted for.
In 2014, the accounts also noted: "The financial statements have not been prepared on the ongoing basis. It is the intention of the directors to cease the trade of the company."
There is no such statement in the 2015 accounts.
The company employs just two people - owners Michael Scully and Gearoid McDonagh.
When contacted over the vastly overpriced tickets being sold by the website, the GAA said that "this happens every year around finals where demand outstrips supply".
"Where we can identify the numbers on tickets, we will cancel those tickets."
Mr Scully was contacted by the Irish Independent regarding the issue, but said that he would not be commenting.