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Losses jump: Riverdance group hit by costs of show

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Beat rolls on: The 25th anniversary Riverdance show will be launched at the 3Arena in Dublin later this week

Beat rolls on: The 25th anniversary Riverdance show will be launched at the 3Arena in Dublin later this week

Beat rolls on: The 25th anniversary Riverdance show will be launched at the 3Arena in Dublin later this week

Costs toward staging the 25th anniversary Riverdance show contributed to pre-tax losses at the main Riverdance company increasing sharply to €1.94m in 2018.

New accounts filed by John McColgan and Moya Doherty's Abhann Productions Ltd show that pre-tax losses increased more than six-fold, to €1.94m from €289,281, in the 12 months to the end of June 2018.

Riverdance played to around 400,000 people in 2018, with tours of China and the US, along with shows at the Gaiety Theatre in Dublin.

This contributed to revenues at Abhann Productions Ltd totalling €9.8m - a decline of 30pc on the revenues of €12.79m recorded in 2017.

A spokesman for Riverdance said the show did not tour overseas last year as it prepared for the 25th anniversary events.

The show is set to be unveiled at the 3Arena in Dublin later this week.

It will run from Thursday to a gala performance at the venue on Sunday.

Pay to directors in 2018 totalled €1.38m, and this followed a payout of €1.4m in 2017. 

The company employed 23 and staff costs, including pay to directors, totalled €2.35m.

Irish Independent