Riverdance firm's turnover falls 28%

Turnover at the company behind Riverdance, the show produced by John McColgan and Moya Doherty, fell by 28 per cent to €24 million in the year to June 30th, 2006, according to company accounts just filed.

Abhann Productions paid its directors - Mr McColgan, Ms Doherty and producer Joan Egan - remuneration of €4.7 million during the year, down from €5.8 million the previous year. The income from the company's stage shows fell to €19.3 million from €30.2 million, while the share of profits from the development of live theatrical productions rose slightly to €2.2 million.

Losses at Abhann almost trebled to €6.6 million during the year. Staff numbers dropped from 36 to 22 with wages and salaries falling from €1.9 million to €1.1 million.

According to a geographical breakdown of Abhann's turnover, sales in Europe fell to €9.5 million from €20.4 million during its 2006 financial year, while turnover in North America dropped to €9.5 million from €20.4 million.

The company recorded a turnover of €3.9 million in Asia where it had no turnover the previous year.

© 2007 The Irish Times

This article appears in the print edition of the Irish Times