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Simon Cowell's television company shows a fall in profits
Simon Cowell's entertainment company SimCo Ltd shows a fall in profits of nearly £30million in the last financial year.
Previous results for the preceding 18 months showed a profit of £34.6million.. Accounts for last year showed £5.8million from documents filed at Companies House.
This also showed Simon did not take any earnings from this period The fall is mainly due to his television shows not being able to to be filmed fully during the pandemic.
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.”
Simon resigned as a director of SimCo Ltd in September 2020 to restructured his Syco Entertainment empire. You can read more about this here: Simon Cowell buys out Sony's stake in Syco TV production