Daniel O’Donnell is singing all the way to the bank after his company almost doubled its profits in the past three years to €4.9 million.
The 50-year-old entertainer has many other interests but this impressive profit relates to his main company.
Returns recently filed by the Kincasslagh star’s main entertainment firm, DOD Promotions Ltd, for 2011, 2010 and 2009, show its profits have increased by 67 per cent over the period, climbing from €2.92 million in 2009 to €4.98 million at the end of last October.
The profits for last year amounted to €307,000, with profits of €459,538 in 2010 that followed profits of €1.2m in 2009.
The figures for DOD Promotions Ltd show that O’Donnell’s firm increased its cash held in bank accounts last year from €507,676 to €666,632.
A major contributor to the wealth of DOD Promotions is O’Donnell’s touring company, Brockwell Ltd.
The figures show that DOD Promotions Ltd received €429,277 last year from Brockwell and was due an additional €1 million from Brockwell Ltd at the end of the year.
The abridged accounts for DOD Promotions Ltd do not provide a profit and loss account that would include a turnover figure. However they do disclose that last year the firm paid €127,369 in corporation tax.
The returns show that O’Donnell’s long-serving and trusted manager, Sean Reilly, serves as a director on DOD Promotions.
However Daniel says that money is not a motivating factor for him.
“I’ve never sung to make money. When I’m performing, I never think about how much I’m making on the night. I sing because I love it and the money is just a by-product of what I do.
“My biggest payment is being on the stage and that is a big part of the secret of my success. If it all ended tomorrow, I couldn’t say there is anything the world could have offered me that is better than what I have.”
Earlier this year, 1,000 people – some travelling from Canada and Scotland – attended the opening of the new Daniel O’Donnell visitor centre in his home town of Dungloe, Co Donegal.
The centre contains memorabilia from O’Donnell’s long career. In a recent post to fans, he said that the centre had “surpassed all of our expectations with over 5,000 visitors through the centre already”.
This venture, set on the site of the old Northern Bank building, is also expected to turn a major profit for the star and its investors.
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