Great Britain

Simon Cowell’s TV company’s profits down by nearly £30MILLION after a disastrous 2020

COWELL CASH HIT

SIMON Cowell’s TV company has reported that profits are down by nearly £30million.

It is another setback for the pop mogul who broke his back in a fall from an electric bike in August.

Simon, 61, has felt the pinch during the pandemic with the new series of Britain’s Got Talent suspended indefinitely and X Factor cancelled until 2022.

New accounts for SimCo Ltd show profits slumped from £34.6million in 2019 to £5.8million in the last 12 months. 

Documents filed at Companies House for the business — which handles earnings from the two telly franchises — also show Simon did not pay himself a wage due to the financial slump.

The paperwork revealed the TV and music ­producer’s company accrued £17.7million last year — down from £65.5million the year before.

An insider said: “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.”

David Walliams mocks Simon Cowell's bike accident on BGT special

GOT a story? RING The Sun on 0207 782 4104 or WHATSAPP on 07423720250 or EMAIL [email protected]

Football news:

Manchester United and Leeds are Interested in 30-year-old defender Torino Nkulu
The only time he got mad at me was when I put the kettle whistle on the tailpipe of his car. English coach Glen Roeder has died
Mark Clattenburg: I am amazed that Manchester United were not allowed to kick a penalty for an obvious play by the hand of Hudson-Odoi. How not appointed after VAR-a mystery
Lucas Vazquez asks to increase his salary by 15%, Real Madrid wants to reduce it by 10%
Arteta can lead Barcelona. He is Laporte's candidate
Ismailov asked Nurmagomedov to support Anzhi. Habib replied
Boyarintsev about the time in Nosta: The metallurgical plant was puffing at the top of its lungs. The sediment on the field fell out, sometimes