Simon Cowell did not pay himself any salary from his old company after profits fell

Entertainment company Simon Cowell, which deals with successful shows featuring Britain’s Got Talent and The X Factor, has fallen in profits.

The most recent papers filed at Companies House for SimCo Ltd reported a profit of £ 5.8m between October 2019 and March 2020, but this was down from large profits of £ 34.6m over 18 months. covering 2019.

The music mogul, 61, who he retired from the business in September 2020, and the two new directors have not taken up any employment since the reported period.

It was also revealed in the films for the six months that the company had a turnover of £ 17.7m in 2020, down from £ 65.5m the previous year.

A defender told The Sun: ‘Everyone in the TV industry has been hit by the pandemic and Simon’ s company has taken a big hit.

‘With the X Factor at rest and BGT plugged in with issues, a year has been slow.

‘Simon is a strong businessman, however, and will no doubt be back in the next 12 months.’

MailOnline has contacted a representative for Simon Cowell for comment.

Both Britain’s Got Talent and the X Factor could not run in the UK in 2020 due to the pandemic.

Simon also had to pull out of the 2019 finals after injuring his back in a bicycle accident, with Ashley Banjo filling him in on the ITV show.

However, despite difficult times for business, Simon has previously pledged £ 1.3m to charities hard-hit by coronavirus.

The music mogul, 60, appeared in The Sun back in March to be ‘devastated’ to hear that charities, such as Shooting Star Children ‘s hospital, were struggling to keep their services running as a result. on the ‘ongoing impact’ of global pandemic.

In his own column for the announcement, Simon said he would accept £ 500,000 of the deficit facing Shooting Star, of which he is Vice-President, and would also follow the promises made about early.

Britain’s Got Talent judge also said he would donate to other charities, and show his support for feeding Britain and feeding America

Simon explained: ‘I have also decided with my team at Syco to donate $ 1,000,000 (£ 800,000) towards the direct needs of some of the most vulnerable people affected by this virus. , and this will be split between British Feeding and American Feeding, where I work and live.

‘Celebrities don’t like to tell people what to do, and I know this is a difficult time for so many – there are concerns about family, health, jobs, mortgage payments and feeding their family at the heart of people’s minds.

‘But others are still in business and entertained with facilities available. So today it is these people that I urge to take on this great challenge. ‘