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

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 Cowell's disaster year continues with his company reporting a plunge in profits of about £30million

2

Simon Cowell’s disaster year continues with his company reporting a plunge in profits of about £30millionCredit: ITV

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.

The pop mogul broke his back after falling from an electric bike in August

2

The pop mogul broke his back after falling from an electric bike in AugustCredit: � 2020 The Mega Agency

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 exclusive@the-sun.co.uk

Leave a Reply

Your email address will not be published. Required fields are marked *