Profits at the firm owned by singer song-writer Dermot Kennedy last year fell by 82 per cent to €81,877 when live music was shut down due to the Covid pandemic.
The lockdown cut off Kennedy’s main source of income. In the previous year his company Riggins Touring Limited recorded profits of €469,347.
At the end of last June, the company was sitting on accumulated profits of €627,968.
The company’s cash funds last year increased from €830,397 to €911,473. The amount owed to the company by debtors last year increased from €404,208 to €589,304.
Best known for hit tunes such as 'Giants', 'Paradise', 'Better Days' and 'Outnumbered', Kennedy is currently making up for lost stage time with a slew of dates over the coming months across Australia, the US, the UK, Europe and Ireland.
During May, the 30-year-old Dubliner is set to play dates in Brisbane, Sydney and Melbourne in Australia before returning to Ireland for early June where he will play a number of gigs at the INEC Gleneagle in Co Kerry. Kennedy will finish off the busy touring year with a New Year’s Eve gig in Perth, Australia.
Last month, Kennedy won the RTÉ Choice Music Prize Irish Song of the year for 2021 for his song, ‘Better Days’.
