herald

Wednesday 17 October 2018

BOD profits hit stunning €6m as golden couple have a stellar year

Brian O’Driscoll and wife Amy Huberman
Brian O’Driscoll and wife Amy Huberman

Accumulated profits at the main firm owned by rugby legend Brian O'Driscoll almost topped the €6m mark last year.

In another stellar year for Ireland's most capped and best ever rugby player, O'Driscoll's ODM and Promotions Ltd last year enjoyed profits of €880,913 - or €16,940 a week.

The profits represent a 20pc increase on the €731,896 profit recorded by the firm in 2016.

The profits of 2017 and 2016 follows profits of €784,173 at the firm in 2015.

At the end of August last year, accumulated profits at O'Driscoll's firm totalled €5.954m - up from €5.14m a year previous.

During the 12 months, the cash-pile at O'Driscoll's ODM firm increased by €977,098 going from €2.24m to €3.2m.

The firm was also owed €803,979 at the end of August.

Corporate favourite O'Driscoll earns his income through his link-up with the likes of accountancy giant EY.

He carried out work with the firm during last year's Lions tour to New Zealand, while he is also employed as a senior adviser to New York-based global advisory firm, Teneo Sports.

O'Driscoll also generates income from corporate speaking and rugby punditry for Newstalk here and BT Sport in the UK.

In the year under review, O'Driscoll disposed of his shareholding in top sports and entertainment agency Ikon Talent.

Investments

O'Driscoll's investments also include a joint venture with tech entrepreneur Ray Nolan, where the two are overseeing the growth of the Ultimate Rugby app and website.

During the year, the value of the ODM and Promotions investments declined from €2.2m to €2.06m.

O'Driscoll didn't take any directors' salary out of the firm last year but the company did pay out a dividend of €70,677.

Staff costs at the company totalled €64,699.

O'Driscoll, then aged 22, established the firm in 2001 as part of his bid to capitalise on being the most marketable Irish player of the modern rugby era.

He is one half of Ireland's unofficial 'golden couple' and his wife Amy Huberman's firm last year enjoyed a successful year, with her ASM Entertainment enjoying profits of €182,165.

Boosted by the author and actor's lead role in RTE's ratings winner Striking Out, the profit of €182,165 represents a 36pc increase on the profits of €133,871 enjoyed by the firm in 2016.

In accounts filed on the same day at the Companies Office as ODM and Promotions, they show that at the end of August last, Huberman's ASM Entertainment was sitting on accumulated profits of €380,573.

The company's cash-pile increased by over €100,000 during the year, going from €257,299 to €358,166 during the year.