Profits at TV host and comedian Tommy Tiernan’s entertainment firm more than doubled to €161,338 last year.
New accounts filed by Mabinog Ltd show the post tax profits for 2023 which follow those of €56,503 the previous year.
The accounts show the business made a €550,000 investment in a subsidiary company during 2023 which contributed to the company’s cash funds almost halving from €1.64 million to €846,168.
The company already owned an investment property with a book value of €130,122.
In 2022, the accounts revealed that aggregate pay for the directors Tommy Tiernan and codirector and wife Yvonne Tiernan totalled €1.18 million. However, the 2023 accounts do not disclose directors’ pay.
Mr Tiernan’s entertainment income continued to flourish last year with a very successful run of the prime time Tommy Tiernan Show on RTÉ and the continuing popularity of the Tommy, Hector and Laurita podcast with Hector Ó hEochagáin and Laurita Blewitt.
The trio announced in April they were closing the podcast due to their busy schedules.
However, separate accounts for Mr Tiernan’s former podcast partners showed they continued to benefit from the venture last year.
Accounts lodged by Laura Blewitt’s podcast firm, Lightning Seeds (Irl) Ltd showed the firm recorded profits of €103,929 and paid out dividends of €65,000 while Hector O’hEeochagain’s own media firm, Low Profile Ltd, enjoyed profits of €130,723 in 2023.
The new Mabinog Ltd accounts show that at the end of December last, the company had accumulated profits of €121,807. Numbers employed by the business remained at five including the two directors.
Mr Tiernan has upcoming sold out dates of his ‘Tommedian’ tour in December in Galway at The Cheese Press in Ennistymon. He is also due to perform 14 nights at Vicar Street in Dublin in January 2025 and a Live at the Marquee event in Cork in July.
Addressing Mabinog’s going concern status, a note attached to the accounts states that “after reviewing the company’s results and projections as well as considering the impact of the current economic situation, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future”.
Separate accounts lodged by connected firm, Mabinog Publishing Ltd, show the company was sitting on accumulated profits of €779,815 at the end of last December.
