Home business Profits at Katie Taylor’s firm dipped to €1.6 million last year

Profits at Katie Taylor’s firm dipped to €1.6 million last year

Profits at Katie Taylor’s firm dipped to €1.6 million last year

Accumulated profits at boxer, Katie Taylor’s commercial firm here last year dipped to €1.6 million.

New accounts filed by the Olympic gold medal winner and current undisputed World Lightweight champion’s KT Sports Ltd show that its losses more than doubled to €85,019 in the 12 months to the end of June last.

This resulted in the firm’s accumulated profits decreasing from €1.7 million to €1.61 million.

Covid-19 impacted the business of the firm for the first half of the year and the losses last year follow losses of €37,724 in 2021 and €46,392 in fiscal 2020.

In the year under review, Katie Taylor fought Amanda Serrano at Madison Square Gardens in New York City in April 2022 and her combined purse from her two bouts in 2022 is estimated to be more than $2m.

According to a report on boxing website, Boxing Scene, the sell-out crowd at Madison Square Gardens of 19,187 paid $1.45m (€1.34m) to see the Serrano bout widely regarded as the professional ‘Fight of the Year’.

The cash funds at KT Sports last year increased from €743,244 to €776,070.

The company owns three investment properties with a combined book value of €753,901.

The loss of the past three Covid-19 impacted financial years at the company followed a number of years of profit – €174,899 in 2019, €37,369 in 2018, €110,075 in 2017, €262,180 in 2016, €250,000 in 2015; €303,931 in 2014 and €180,996 in 2013.

The 36-year-old turned pro in October 2016 and provides a home address at Connecticut in the US in company documentation.

Katie Taylor is also a director of the US based KT Sports USA LLC.

Katie Taylor sits on the board of the Bray based KT Sports with sister Sarah Taylor and directors’ pay last year decreased marginally from €52,065 to €51,874.

Taylor’s career is being managed by Eddie Hearn’s Matchroom Sport. Recent accounts show that Matchroom Sport group recorded eye watering pre-tax profits of £42.27 million as revenues surged to £213.67 million in the 12 months to the end of June.

The group also promotes global darts and snooker events and last year its boxing subsidiary accounted for £11.6m of the group’s profits.

Katie and Sarah Taylor approved their company’s accounts on May 19th. KT Sports was founded in 2009, three years after Katie Taylor won her first gold in the European amateur championships in Poland.

Underlining the fortune that Katie’s exploits in boxing has produced, the first set of available accounts for the firm, which cover the period from April 2009 to June 2010, show that it made a profit of just €678 that year.