Thursday 22 February 2018

Firm of economist McWilliams recorded profit of €211,000 for year

Gordon Deegan

Economist David McWilliams is enjoying a personal boom during the bust with his main firm enjoying record profits last year.

New accounts filed by the Irish Independent columnist's Iconic Media Ltd confirm that it had profits of €211,031 in the 12 months to the end of March last year.

The firm's accumulated profits jumped from €392,321 to €603,352 last year. The profits last year compare to profits of just €15,580 in the 12 months to the end of March 2011, when accumulated profits increased from €376,741 to €392,321.

For 2012 the accounts show that McWilliams's firm was sitting on financial assets totalling €1.26m.

The firm was incorporated in 1999 and Mr McWilliams's wife, Sian Smyth, also serves as a director on the firm.

A graduate of Trinity College and a former employee at the Central Bank, where he worked as an economist, Mr McWilliams first came to wide public notice concerning his repeated warnings in the national media about the growing housing bubble.

His first book, 'The Pope's Children', explored his concerns and was the best-selling non-fiction book in Ireland in 2006.

The Dubliner followed up that success with 'The Generation Game' in 2007, with 'Follow The Money' completing the trilogy in 2009.

McWilliams's latest work, 'The Good Room', was published last year. He has also presented a number of TV series about the country's economic challenges, while he also wrote and presented a documentary, 'Addicted to Money', for ABC Australia.

More recently, the newspaper columnist is in demand outside of Ireland generating income through public speaking engagements staged by the National Bank of Abu Dhabi, Google, Erickson, Sony and the City of Sydney.

At the Abu Dhabi event in February other speakers included former French president Nicolas Sarkozy and former UK foreign secretary David Milliband.

Irish Independent

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