Accumulated profits at the main entertainment firm owned by one of the country’s most popular artists, singer-songwriter Dermot Kennedy, last year surged to \u20ac6.4 million.<\/p>\n
That is according to new accounts which show that Kennedy\u2019s Riggins Recording Ltd recorded post-tax profits of \u20ac1.89 million in the 12 months to the end of June last.<\/p>\n
The profits of \u20ac1.89 million at the firm for last year followed the company recording post tax profits of \u20ac2.2 million in the prior year.<\/p>\n
This Summer, the Rathcoole man\u2019s career will reach new heights when he plays two gigs at the Aviva Stadium in Dublin in July ensuring a massive pay day for the artist.<\/p>\n
Kennedy will become the first Irish solo artist to achieve the milestone of performing two consecutive nights at the Aviva.<\/p>\n
Cash funds at the company last year increased by \u20ac2.79 million from \u20ac3.74 million to \u20ac6.53 million.<\/p>\n
Best known for hit tunes such as \u2018Giants\u2019, \u2018Paradise\u2019, \u2018Better Days\u2019, and \u2018Outnumbered\u2019, Kennedy is set to add to his company\u2019s coffers this week with tour performances at venues in Berlin and Bonn in Germany.<\/p>\n
The dates are part of a worldwide tour where Kennedy is also due to play at venues at France, Belgium, Switzerland, and the Netherlands before commencing a UK leg at the end of the month that will culminate in a gig at London\u2019s O2 arena on June 5th.<\/p>\n
The global tour also takes in dates in Japan, the US, and finishing in Australia and New Zealand.<\/p>\n
The filing of the accounts follows the April release of Kennedy\u2019s The Weight of the Woods album which is his first studio album since Sonder released in November 2022.<\/p>\n
The \u20ac1.89 million profits last year were achieved after taking into account non-cash amortisation costs of \u20ac790,000 that did not occur in 2024.<\/p>\n
The profit also takes into account foreign exchange losses of \u20ac277,117.<\/p>\n
The accounts show that director’s pay totalled \u20ac331,376 made up of \u20ac250,000 in pension contributions and \u20ac81,376 in remuneration.<\/p>\n
At the end of June 2025, the company\u2019s shareholder funds totalled \u20ac14.3 million that included \u20ac7.89 million from a share premium account which arose on the issue of shares in 2023.<\/p>\n
Signed off on March 22nd by the 34-year-old Dermot Kennedy, the accounts show that the value of the company\u2019s unlisted investments has increased from \u20ac1.24 million to \u20ac2.32 million. Numbers employed by the company was two.<\/p>\n
Kennedy\u2019s popularity has reached new levels following his initial break-through when he took the No.1 slot in both the official Irish singles and album charts with \u2018Giants\u2019 and \u2018Without Fear\u2019.<\/p>\n
Kennedy\u2019s debut album, Without Fear, achieved multi-platinum status with top 10 single, \u2018Outnumbered\u2019 as well as hit tunes, \u2018Power Over Me\u2019 and Giants\u2019.<\/p>\n
Kennedy has won the RT\u00c9 Choice Music Prize Irish Song of the year for 2021 for his song, \u2018Better Days\u2019.<\/p>\n","protected":false},"excerpt":{"rendered":"Accumulated profits at the main entertainment firm owned by one of the country’s most popular artists, singer-songwriter Dermot…\n","protected":false},"author":2,"featured_media":447408,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32],"tags":[321,93,61,60],"class_list":["post-447407","post","type-post","status-publish","format-standard","has-post-thumbnail","category-celebrities","tag-celebrities","tag-entertainment","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/447407","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=447407"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/447407\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/447408"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=447407"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=447407"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=447407"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}