Bad times in the Sullivan Empire?

[Shaun?]

From todays Financial Mail:

Profits at porn publisher David Sullivan main holding company fell last year but that did not stop the raunchy Daily Sport newspaper awarding himself a ?7 million pay packet.

Accounts just filed at Cornparies House show he took home a ?4 million salary from his wholly owned Roldvale, compared with ?1.2 million the previous year. This was topped up by ?3 million in pension contributions. Leaving aside his earnings, Sullivan is hardly short of cash Roldvale has nearly ?30 million cash in the bank and investment properties worth nearly ?50 million. However Roldvale's profits fell to just over a ?10 million in the year ending September 2001, down from nearly ?12 million in 2000.

The accounts also show that Sullivan's management fees from Sports Newspapers, owner of the Daily and Sunday Sport titles, were slightly down, to ?4.25 million from ?4.5 million in the previous year. He jointly owns Sports Newspapers with fellow porn barons the Gold brothers. The Sports group also has a 78 per cent stake in newly promoted Premier League football club Birmingham City

Sullivan, 53, made his fortune publishing top-shelf magazines and now runs various adult operations, including internet sites and phone chatlines, along with his extensive property interests through Roldvale from his ?15 million mansion in Theydon Bois, Essex. Sullivan saw the value of his investment in horse racing rise, with racing stocks worth nearly ?200,000 last yeah compared with ?85,000 in the previous year. However, he did not have such a good year on the stock market, with the value of his listed investments falling from nearly ?13 million to almost ?7 million.

Sullivan told Financial Mail he had netted ?11 million from his business in the last year: '1 have taken a lot of money out over the past few months and put it into a trust fund for my two sons,' he said.

He also gave away his porn magazines last year to the Gold brothers for nothing 'They were not making anything. That business is over.'
Sullivan retains extensive property interests, including a Bhs store in Stirling, a McDonald's fast-food outlet in London's Shaftesbury Avenue and neighbouring Soho

[marcusallen]

Gotta feel sorry for the poor little fucker, imagine trying to exist on that sort of pittance.

[Shaun?]

I get by on a lot less, no doubt so do virtually all the forumites.

[joe king]

Does he still own Sheptonhurst? 1 of the biggest R18 vid suppliers.

[jj]

Probably signed over to his kids for Tax.......what's the betting they turn out to have all the moral sense of the Maxwell boys?
Blood will out...........

[Crimpo]

thanks for the research - bloody depressing tho!

[Lizard]

I also own a Mc Donalds, a half eaten double cheeseburger which i,m just about to finish.

washed down with of course................

[richy]

I believe all 'MuckDonalds' are franchised out, so he wouldn't actually own one, just cop a proportion of the profits. No change there, then!
Additionally, was gobsmacked to read that he has two sons. Which particular model sired them for him, I wonder? The last partner in crime (female) that I know of was Karen Brady.

[Shaun?]

I think it was Eve somebody, she was the editor of Razzle also.

[richy]

Eve Vorley?