By Gordon Deegan
A company owned by comedian, Tommy Tiernan recorded profits of €222,304 before the Covid-19 pandemic shut down the live comedy industry.
Tiernan has fronted one of the TV hits of the current Covid-19 lockdown with his Saturday night chat-show outperforming The Late Late Show at times and securing an extended run.
Accounts for Tiernan's Mabinog Ltd show that it enjoyed a bumper year in 2019 before the pandemic last year decimated the Co Meath’s man’s stand-up income revenues, which was the mainstay of his business.
The figures show that the cash reserves at the company increased more than nine-fold in 2019 rising from €73,603 at the end of 2018 to €686,294 at the end of 2019.
The company’s €222,304 profit for 2019 followed a loss of €158,289 for 2018.
The company also had an investment property on its books valued at €310,122 at the end of 2019. The valuation put on the property by a selling agent in 2019 was €40,000 less than the valuation put on the property at the end of December 2018.
Stand-up
Separate accounts for another Tiernan firm, Mabinog Publishing Ltd show that it had accumulated profits of €544,769 at the end of 2019 after recording a profit of €33,528 for the year.
Tiernan – who spent five to six years on the dole in Galway before earning a living from comedy - has said previously: “I didn’t get into stand-up for the money. I never thought I would earn a living from stand-up.”
On his love of being a stand-up, Tiernan said: “I think it is a great job. I love it. Getting up in front of people and making them laugh –it’s stunning.”
Comedy rivals
Separate accounts for a company owned by another of Ireland’s top comedians, Jason Byrne shows that its accumulated profits increased marginally to €1.065 million at the end of 2019.
Jason Byrne Entertainment Ltd's cash pile increased from €169,325 to €198,111. Directors’ pay totalling €296,298 was made up of pay of €236,298 and pension payments of €60,000. The Byrne firm recorded sales during 2019 of €206,120 with another Jason Byrne company, Special Eye Entertainment Ltd.
Accounts for comedian David O’Doherty’s comedy firm, David O’Doherty Ltd show that its accumulated profits dipped to €762,293 in 2019. Directors’ pay at the company totalled €284,820 made up of €140,000 in pay and pension contributions of €140,820.
