Accumulated profits at David McWilliams firm increase to €1.2 million
Gordon Deegan
Accumulated profits at the media company operated by author, podcaster and economist, David McWilliams last year increased to €1.2 million.
New accounts lodged by McWilliams’s Iconic Media Ltd with the Companies Office show that accumulated profits at the company increased by €228,182 from €979,378 at the end of March 2022 to €1.2 million at the end of March 31st last.
In a buoyant year for the business, the firm’s cash funds more than doubled rising from €158,421 to €376,869.
The value of the company’s unlisted investments remained at the same level at €685,661. The amount owed to the company by debtors increased marginally to €239,581.
The post tax profits for the company last year are down slightly on the post tax profits of €229,582 in the 12 months to the end of March 2022.
The strong profits of the past two years follow more modest post tax profits at Iconic Media of €65,531 and €4,196 during the two Covid-19 hit years of 2021 and 2020.
Numbers employed by the company, including directors, remained static at four last year made up of three in administration and one under the heading of consultancy.
The remuneration for directors is not contained in the new accounts but the prior accounts for 2022 show that directors’ remuneration that year was €173,603 and €200,849 in 2021.
The accounts are abridged as they are for a small company and there is no requirement to provide the company’s revenues for the year.
Mr McWilliams (57) is arguably the country’s best known economist and has 334,000 followers on 'X' the social media platform formerly known as Twitter
The Dubliner has written five books and writes a weekly column for The Irish Times and contributes regularly to the Financial Times.
Along with his prolific writing, Mr McWilliams also hosts The David McWilliams podcast which generates income through ads and an optional no-ads €5 per month membership.
Away from the activities of Iconic Media, Mr McWilliams is also the founder of the world's only economics and stand-up comedy festival “Kilkenomics” and a co-founder of the successful Dalkey Book Festival.
