Brian O'Driscoll firm sees profits increase to €9.66 million in 2022

Gordon Deegan

Accumulated profits at the main firm owned by rugby legend, Brian O’Driscoll last year increased to €9.66 million.

New abridged accounts filed by O’Driscoll’s ODM & Promotions Ltd to the Companies Office show the company recorded post tax profits of €641,383 in the 12 months to the end of last August.

The profits for 2022 show that O’Driscoll - now 44 - continues to retain stellar earning power - eight years after retiring from the game of professional rugby.

The profits of €641,383 are a 26 per cent decrease on the post tax profits of €874,120 recorded in the 12 months to the end of August 2021.

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 to €1.85 million.

The value of the company’s financial assets increased by €197,140 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 profits in recent years with and the profits of 2022 and 2021 followed profits 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 firm 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 & 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.