Saturday 16 December 2017

Profits jump by over €250,000 at economist McWilliams's firm

Accumulated profits at David McWilliams’s firm have risen to €884,000
Accumulated profits at David McWilliams’s firm have risen to €884,000

Gordon Deegan

Accumulated profits at the media firm owned by celebrity economist David McWilliams jumped by over €250,000 last year.

McWilliams is one of the country's leading economic commentators and has been a chronicler of Ireland's boom and bust over the past 15 years.

The Dubliner has also been busy building up his brand both here and across the globe and new figures show that it continues to pay off with accumulated profits at his Iconic Media Ltd rising from €629,846 to €884,037.

The accounts show that at the end of last March, the firm had financial assets totalling €1.16m.

The increase in profit at the firm last year is more than 12 times the €20,068 increase in profit the firm enjoyed in 2014.

Mr McWilliams - who appeared at the Oireachtas banking inquiry last year - generates his income from his writings, including regular columns at two national newspapers, including the Irish Independent, and speaking engagements around the world where he counts Google, Ericksson and Sony among his clients.

Last year, Trinity College Dublin announced that McWilliams - now a Professor - would be joining the faculty and delivering a course on global economics on the Trinity Executive MBA.

Already, the best-selling author of four books has been busy teaching through his website where the Trinity graduate offers an online lecture economics course, 'Economy without Boundaries', that costs participants €224. The author also generates income from providing a daily guide to understanding the global economy where those interested in McWilliams's thoughts can sign up for a daily post, the Global Macro 360, and it costs "less than three pints a week" or €439 for the service over one year with a one month subscription at the higher rate of €50.

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

The firm employs two people - including directors - and staff costs rose last year from €55,000 to €60,000.

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