Belfast Telegraph

Greame McDowell's firm see profits of £12.5m

Accumulated profits at the commercial firm owned by Graeme McDowell last year soared to £12.5m ($16.43m) as the golfer also enjoyed an upturn in fortunes on the golf course.

New accounts show that accumulated profits jumped by £2.9m at G-Mac's Boyport Services Ltd in the 12 months to the end of last December.

During the year, 38-year-old G-Mac was able to pocket £1.2m in dividends from the company.

The strong performance enjoyed by the firm last year followed the company recording profits of £2.9m in 2015 and a dividend payout of £1m that year.

The cash pile at the company last year reduced from £3.8m to £3.1m while the value of the company's tangible assets increased from £1.74m to £3.22m. The value of the company's investments stood at £5.7m.

The rise in fortunes for the 2010 US Open winner came as he also enjoyed solid form on the golf course in 2016. The long hours on the course over the years have paid off handsomely with US PGA prize money to date standing at £11.6m.

On the European tour, McDowell has fared even better with 10 tour wins across his career, accumulating €19.25m in prize money on that tour.

McDowell has invested wisely off the golf course and has opened two restaurants in Florida where he lives.

In early 2013, McDowell opened the upscale restaurant and sports bar the Nona Blue Modern Tavern outside Lake Nona in Orlando, where a must try item is the 'G-Mac and Cheese'.

Last year, he opened a second restaurant, also called Nona Blue, in Ponte Vedra Beach in Florida just outside the gates of the PGA tour's headquarters.

G-Mac also has his own clothing label - G-Mac Apparel.

McDowell started managing his own commercial interests in 2015 after parting way with Dublin based sports agency Horizon.

He said at the time: "I am at a stage in my life where it feels right to move on to the next phase of my career - both in golf and business."

Away from his commercial and golf activities, the golfer operates The G-Mac Foundation whose mission is to support children's medical research in Northern Ireland, the Republic and the US.

McDowell's success on the golf course has won him a slew of sponsors that include credit card firm MasterCard, consultancy firm Teneo, financial services firm RBC, golf ball and equipment maker Srixon and sports science firm Orreco.

McDowell turned pro in 2002 and established Boyport Services that same year to manage his commercial success.

Belfast Telegraph

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