Profits at Ronaldo's super agent's Dublin company soar to €52.79m
Pre-tax profits at the Irish branch of the football 'super agency' Gestifute that represents Cristiano Ronaldo last year increased almost three-fold to €52.79 million.
New accounts filed by Gestifute International Ltd show that it enjoyed the large hike in pre-tax profits as revenues increased by 159 percent from €22.69 million to €58.9 million last year.
Pre-tax profits increased by €34.1 million from €18.69 million in 2017 to €52.79 million last year.
The Irish firm paid €17 million during the year in dividends to its shareholders and this followed the company paying out €18 million in dividends in 2017.
Gestifute was founded by super agent, Jorge Mendes who represents Ronaldo along with new Spurs manager, Jose Mourinho and a host of other international players.
The principal activity of the Irish company is providing consultancy and marketing services to professional sportspeople and sporting organisations.
The Irish company has its registered office at College Green in Dublin 2 and the directors state that the company plans to continue its present activities and current trading levels.
Gestifute International Ltd had accumulated profits of €43 million at the end of last year while its cash pile more than doubled from €3.9 million to €7.9 million.
The accounts show that the Irish firm’s tax bill for the year totalled €6.79 million and the company recorded post-tax profits of €46.9 million.
The company’s controlling party is Start SGPS, a Portuguese-registered firm that is Mendes’s holding company for his businesses in sport.
One of the directors of Gestifute is Andy Quinn and a note attached to the accounts show in 2018 €86,497 was charged by Andrew P Quinn and Associates where Andy Quinn is a director.
The company employed six people and staff costs totalled €378,368.
