In the latest docs filed at Companies House for SimCo Ltd it was revealed that from October 2019 and March 2020 a profit of £5. 8m has been done, however this was down from massive profits of £34. 6m compared to an 18-month period covering 2019.
The music mogul, 61, who resigned from the business organization in September 2020, and the double new directors also did not acquire any earnings from the period passed.
Drop: Simon Cowell’s former entertainment company has revealed a fall in profits, with the stage directors not taking any wages (pictured in 2018)
It was also revealed in the filings for the six-month period that the operation} had a turnover of £17. 7m in 2020, which was down based in £65. 5m the year before.
An insider told The Sun : ‘Everyone in the TV industry has been hit by the pandemic and Simon’s company has taken a considerable battering.
‘With The X Factor rested and BGT plagued by issues, it’s been a slow year.
‘Simon is a savvy businessman, however, and he’s no doubt going to be back on top over the next 12 months.’
MailOnline has contacted a representative for Simon Cowell for a comment.
Tough period: In the latest paperwork filed at Companies House for SimCo Ltd, which Simon resigned from in September 2020, it was revealed that between October 2019 and March 2020 a profit of £5.8m was made (pictured in 2019)
Both Britain’s Got Talent and the X Factor were unable to run in the UK during 2020 due to the pandemic.
Simon also had to pull out of the 2019 finals after injuring his back in a bike accident, with Ashley Banjo filling in for him on the ITV show.
However, despite the tough times for business, Simon previously pledged to donate £1.3m to charities that have been hit hard by coronavirus.
The music mogul, 60, revealed in The Sun back in Parade, sashay that he was ‘devastated’ to hear because charities, such as Shooting Star Child hospice, were struggling to continue their specific services due to the ‘knock-on effect’ from global pandemic.
In his own column for the publication, Peter said that he would be taking on £500, 000 of the deficit faced through process of Shooting Star, which he is Vice-President of, and he would also keep on his pledges that were already location.
The Britain’s Was Talent judge also said that although donate to other charities, and will illustrate to his support for Feeding Uk, united kingdom and Feeding America
Simon explained: ‘I have also went with my team at Syco to donate $1, 000, 500 (£800, 000) towards the immediate should receive of some of the most vulnerable people counting this virus, and this will be break up between Feeding Britain and Giving them America, where I work and furthermore live.
‘I may not like celebrities telling people occasionally, and I know this is a hugely hard time for so many — worries pertaining to family, health, jobs, paying the payday loan and feeding their family are in the forefront of people’s folks.
‘But there are still the crowds in business and in entertainment with features available. So today it’s those consumers I’m urging to rise to this incredible challenge. ‘
On hold: Britain’s Got Talent 2021 was always scrapped until the autumn as COVID-19 lockdown scuppered plans for all over the country auditions
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