Daily Mirror (Northern Ireland)
Mcilroy firm’s books show revenue of £16million
REVENUES at the world’s number one ranked golfer Rory Mcilroy’s management firm last year climbed £4million to £16million.
New accounts show Dublin-based Rory Mcilroy Management Services Ltd saw pre-tax losses fall sharply by 70% from £6.56million to £1.9million.
However, the pre-tax loss for the firm arises after a non-cash write down of £13million in image rights.
The accounts disclose that the net cash generated by the company from operating activities after tax and after interest paid totalled £10.6million for 2021 compared to £8.1million for 2020.
Last year was the second year golf was impacted by Covid-19 and 2021 revenues still lag behind 2019 revenues of $24.2million.
The directors of the company state that “both the professional game and recreational golf have emerged strongly from the Covid-19 pandemic”.
They added “the outlook for the medium term is very promising”.
The main activity is managing royalty earnings and management fees for 33-year-old Co Down star Rory.