Belfast Telegraph

Van Morrison on song as profits at his firm increase to over £6m

By Gordon Deegan

Belfast music legend Van Morrison was on "the bright side of the road" last year as profits at his firm soared to almost £6.2m.

Far from slowing down, new accounts show the world-renowned 72-year-old singer/songwriter's earning power is increasing with age.

Profits at his Exile Productions Ltd entertainment firm jumped by £3.66m in the 12 months to the end of April 30, 2017.

This represent a 50% increase on £2.4m in profits in the previous year, which coincided with the performer playing a series of gigs to celebrate his 70th birthday in August 2015.

Long-time devotees of the celebrated artist converged on the tree-lined Cyprus Avenue in Belfast - immortalised by Morrison in song - as he was lavished with praise for his more than half a century contribution to music.

The new accounts filed by Exile Productions to Companies House show that profits last year resulted in accumulated profits increasing from £2.6m to £6.17m.

In the 12 months to the end of last April, the firm's cash pile increased by £920,000 - going from £2.56m to £3.48m, while the money owed to the firm by debtors rose from £3.29m to £4m.

The abridged accounts for Morrison's firm don't reveal the revenues it recorded during the year.

Knighted in 2016 for his musical achievements and services to tourism and charitable causes here, 'Sir Ivan's' creative energy shows no sign of slowing down after he released three studio albums in little over a year.

The artist released his 36th studio album, Keep Me Singing, in September 2016 in the year under review.

The eye-watering profits last year follow Van completing a short tour of the UK in late 2016 that included a gig at the O2 Arena in London.

He also completed a US tour in the early part of last year.

The veteran performer has since released two albums - Roll with the Punches in September of last year and his 38th studio album, Versatile, in December.

The intensely private Morrison has received widespread acclaim over his long and accomplished career.

His lengthy roll of honour includes six Grammy Awards, a Brit Award for Outstanding Contribution to Music, and his induction into both the Rock and Roll Hall of Fame and the Songwriters Hall of Fame.

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