Accumulated profits at the main firm owned by former Irish rugby international Brian O’Driscoll increased to €9.66 million last year, even as his earnings appeared to dip during 2022.
New abridged accounts filed by O’Driscoll’s ODM and Promotions Ltd to the Companies Office show the company recorded profit after tax of €641,383 in the 12 months to the end of last August – down 26 per cent on the same period a year earlier.
Even so, the accounts show that O’Driscoll (44) continues to retain significant earning power eight years after retiring from the sport.
The main contributory factor behind the drop in profits was a non-cash €91,826 impairment of the firm’s tangible assets last year.
Cash funds at the company last year increased by €195,148 from €1.66 million to €1.85 million.
The value of the company’s financial assets increased by €197,140 from €5.495 million to €5.693 million
The book value of the company’s investment properties remained at €1.78 million and a note states that the investment properties are rented residences.
The firm has consistently recorded strong earnings in recent years and the profits of 2022 and 2021 followed surpluses of €899,710 in 2020, €694,791 for 2019 and €596,006 in 2018 as the Clontarf man’s financial fortunes have continued to flourish away from the playing field.
Pay to staff at the company, which includes directors, last year increased from €113,812 to €124,470, made up of wages and salaries of €112,341 and €12,129 in social insurance costs.
The firm’s financial assets are made up of €3.94 million in listed investments where the firm made additions of €217,076 during the year and disposed of investments worth €61,788.
The company had a value of €679,906 in participating investments and this relates to a 33.3 per cent investment in White Water LLC, a New York limited liability company.
“Other investments other than loans” increased in value to €1.02 million and the other investments relate to minority investments in unlisted companies.
O’Driscoll ended his decorated playing career with Ireland and Leinster in 2014 and the ODM and Promotions Ltd’s only other director is O’Driscoll’s father, Frank.
The two signed off on the accounts on July 6th.
O’Driscoll, then aged 22, established the ODM firm in 2001 as part of his bid to capitalise on being the most marketable Irish player of the modern rugby era.
During an illustrious playing career, O’Driscoll won one Grand Slam with Ireland, three European Heineken Cups with Leinster and was capped 133 times by Ireland for scoring 46 tries.
