Wednesday 20 June 2018

Katie's boxing clever move into pro circuit sees profit hit €1.5m

Boxer Katie Taylor. Pic: Sportsfile
Boxer Katie Taylor. Pic: Sportsfile

Katie Taylor's move into the professional boxing arena is paying off, with accumulated profits at her commercial firm passing the €1.5m mark last year.

New accounts show that the Olympic gold medal winner and unified lightweight professional world champion is reaping the benefits of going pro.

The accounts for KT Sports Ltd, which have just been lodged at Companies Office, show accumulated profits at the firm rose from €1.46m to €1.57m in the 12 months to the end of last June.

During the year, the company's cash pile jumped from €1.247m to €1.38m.

Last year's profit of €110,075 followed earnings of €262,180 in 2016, €250,000 in 2015; €303,931 in 2014 and €180,996 in 2013.

Taylor (31) turned pro in October 2016 and won the WBA female title in 2017 and the IBF title in April.

Her mother, Bridget Taylor, sits on the board of the firm with her daughter.

Fortune

The figures show that, despite rising profits at the company, the two directors' pay is relatively modest.

The amount paid out to the two directors last year totalled €59,061, up from €52,828 in 2016.

At the end of last June, the firm owed €40,008 in various taxes including €24,102 in VAT, €14,634 in corporation tax and €1,272 in PAYE and social welfare.

Taylor has launched her own range of KT Apparel in a bid to capitalise on her popularity here.

The boxer is the sole shareholder of KT Sports, which was founded in 2009, three years after she picked up her first gold in the European amateur championships held in Poland.

Across her amateur career, Taylor won a total of 17 golds after taking part in her first officially sanctioned fight aged 15 in 2003.

Underlining the fortune that her exploits in boxing have produced, the first set of available accounts for the firm, which covered the period from April 2009 to June 2010, showed that it made a profit of just €678 that year.

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