New financial reports filed by Morrison’s Exile Productions Ltd with the British Companies House show that accumulated profits increased by £1.67 million (€1.95 million) – from £7.83 million to £9.5 million (€11.14 million) – in the 12 months to the end of April last year. This number represents a nearly tripled growth compared to the £572,317 in post-tax profit recorded in the previous year. The company’s cash funds also increased from £6.77 million to £8.4 million in the same period.
The increase in profits last year coincided with the first year since 2019 in which Morrison’s performances were not interrupted by Covid-19, which paralyzed the entertainment industry over the course of two years. Morrison is best known for his songs such as “Moondance,” “And It Stoned Me,” “Sweet Thing,” “Brown Eyed Girl,” and “Have I Told You Lately.” His concerts in the previous year took place in venues like the Olympia in Dublin, as well as in Belfast, Milton Keynes, and Amsterdam, leading to an increase in the company’s income. As part of his European tour, Morrison also performed in Lucerne, Antwerp, Brussels, and Cascais, Portugal.
The company’s revenues were also boosted by the release of Morrison’s album titled “Moving on Skiffle” in March of last year. Recently, his concerts at Ulster Hall in Belfast have been held, with the performances on February 14th already sold out, but tickets are still available for the next night.
The profit growth was also part of the profit distribution for Morrison, who found himself at the center of controversy in the early stages of the Covid-19 pandemic due to a series of anti-lockdown songs and statements. The financial reports, which were only signed on January 23rd, stated that a director’s loan of £730,395 was fully repaid by the end of last month. Shortened financial statements for Morrison’s company do not disclose the revenues achieved by the company within the year. The company employs 4 people, and the profits include non-cash depreciation costs of £44,597.
Morrison, who was knighted in 2016 for his musical achievements and contributions to tourism and charitable purposes in Northern Ireland, shows no signs of slowing down and released his latest album “Accentuate the Positive” in November of last year.
Questions and Answers
The source of the article is from the blog qhubo.com.ni