Swim Ireland Nudges Towards €5 Million Revenues

Swim Ireland’s AGM at the weekend passed financial accounts which show that in 2019 it produced record turnover and is now nudging towards being a €5 million company.

Income for the year rose from €4.2 million in 2018 to €4.8 million in 2019 with sponsorship now accounting for €80,000 of revenue and Tesco ireland on board as a Title Sponsor for the sport for the first time.

Grants from Sport Ireland rose by 10 per cent in the year and accounted for 47 per cent of revenue income.

Revenues rose across all areas from participation through events and education to affiliation fees which came in at €626,774 for the twelve months.

Expenditure was also up on the previous year and Swim Ireland ended the year with a small deficit of €69,000.

Looking to the more challenging environment of 2020 an original forecast deficit of €53,000 has been amended in light of the COVID-19 Pandemic to a forecast of €150,000 though the company behind the NGB does have substantial reserves of over €800,000.

The accounts were audited and signed off by OSK Audit Limited.

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