Christy Moore puts €600k into pension pot

Singer Christy Moore has been busy preparing for life after his eventual retirement from the music scene. The 72-year-old has been entertaining audiences for five decades.

And new accounts show the singer was busy planning financially for his eventual retirement from a life of recording and touring after putting €600,000 into the directors’ pension pot at his entertainment company last year.

However, a look at his upcoming busy touring schedule shows retirement is not going to occur anytime soon.

The contribution to the pension pot saw the accumulated profits at Mr Moore’s company, Yellow Furze Music Ltd, in the 12 months to the end of March last, declining by €341,730 from €1.24m to €901,144.

The pension payout also hit the firm’s cashpile declining from €853,998 to €542,932. The principal activity of the company is the sale of music performances and recordings by Christy Moore.

The performance of the company was last year boosted by the release of Moore’s Lily studio album and a heavy touring schedule around Ireland.

The signer songwriter is best known for his ‘Ride On’ and ‘I’m An Ordinary Man’ anthems and last year’s offering was Moore’s first studio album in three years.

The release of Lily also came 47 years after the 1969 release of his debut Paddy on the Road album in 1969.

Pay to directors at the firm last year decreased marginally from €144,591 to €141,806.

Mr Moore often plays to packed-out stadiums for various charities while he is also well known as a founding member of Moving Hearts and Planxty.

Yellow Furze Music Ltd has rights that generate royalty income — the figures show that the firm has unidentified intangible assets valued at €403,847 compared to €461,438 a year previously.

Company figures show the wealth of the firm has increased in recent years: Its accumulated profits rose from €524,172 to €901,144 over the past few years.

More than 50 years after going on the road, the folk singer’s concerts in Ireland and the UK are still sellouts.

His next Irish gig is due to be held at Enfield, Co Meath on September 1.

The Co Kildare man will add to his coffers with further gigs at Carlow; Watford; Worthing; London, Sligo; Cootehill, Co Cavan; and others towards the end of November.

In a recent press interview, Mr Moore said: “What keeps me going is that there’s people who want to hear: I have new songs to sing, my voice is holding up. I just love doing it.”

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