Business Irish

Friday 22 June 2018

Boxer Taylor cashes in after turning pro

Boxing star Katie Taylor, who is the sole shareholder in KT Sports, saw profits hit €1.5m – €110,000 up on the previous year
Boxing star Katie Taylor, who is the sole shareholder in KT Sports, saw profits hit €1.5m – €110,000 up on the previous year

Gordon Deegan

The move by Katie Taylor into the professional boxing arena is paying off, as accumulated profits at her commercial firm passed the €1.576m mark last year.

Taylor is one of the country's most popular sports stars and new accounts show that the Olympic gold medal winner and current unified lightweight professional World Champion is reaping the benefits of turning professional.

The accounts for KT Sports, just lodged the Companies Office, show that accumulated profits at the firm increased by €110,075, going from €1.46m to €1.57m in the 12 months to the end of June last.

During the year, the cash pile jumped from €1.247m to €1.38m.

The profit of €110,075 last year followed profits of €262,180 in 2016, €250,000 in 2015; €303,931 in 2014 and €180,996 in 2013. The 31-year-old, who turned pro in October 2016, went on to win the WBA female title in 2017 and added the IBF title in April of this year

Her mother, Bridget Taylor sits on the board of the firm with her daughter. 

The figures show that in spite of the rising profits at the company, the pay to the two directors is relatively modest.

The accounts show that the amount paid out to the two directors last year totalled €59,061 and this followed a payout of €52,828 in 2016.

At the end of June last, the firm owed €40,008 in various taxes including €24,102 in VAT; €14,634 in corporation tax and €1,272 in PAYE and social welfare.

The boxer, who is the sole shareholder in KT Sports, has launched her own range of KT Apparel seeking to capitalise on her popularity here.

Irish Independent

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