Lewis Capaldi’s company raked in more than £600,000 last year, new figures have revealed.
Accounts for the chart-topper’s firm have disclosed his earnings have rocketed in the last 12 months.
The 23-year-old, from Whitburn, West Lothian, has become a global star after his debut album Divinely Uninspired to a Hellish Extent sold more than one million copies worldwide and reached No1.
Capaldi set up his company, called Face Like Thunder Limited, in September, 2017, shortly after signing his first record deal.
It handles income from ‘sound recording and music publishing activities’.
Accounts just published for the period up to October 2019 show the business had total assets of £1,067,061.
The firm, which is based in Paisley, Renfrewshire, owes almost £431,000 to creditors and made a profit of £620,000.
The accounts state the company has a total value of £636,081. That is a massive rise from 2018 when it was worth just £16,417.
The Someone You Loved singer has set up another company to handle income from touring which has not yet published its accounts.
After his album topped the charts last year, Capaldi admitted he was over the moon as “it feels like I’m going to make some money, finally”.
He claimed he only had £200 in the bank and added: “The money will come in at some point but right now I’ve not seen much of it.”
Capaldi still lives at home with his mum Carol, a nurse, and dad Mark, a fishmonger, and has spending lockdown working on his second album.
In an interview earlier this month, he said he would be working in his dad’s fish shop if he hadn’t made it big in the music industry.
He said: “My dad is a fishmonger. He has a fish shop, one that sells fresh fish – KP’s Fresh Fish.
“So I’d probably work there. But I hate fish. I hate the smell of fish and I can’t look at prawns in the face.”
After self-releasing his first track Bruises in 2017, Capaldi became the fastest ever unsigned artist to pass the 25million plays mark on Spotify.
He was then snapped up by music giants Capitol in the United States and the Virgin label in the UK.
His debut album remained at the top of the UK Albums Chart for six weeks and the single Someone You Loved holds the record for the longest number of weeks in the top ten by a British act in history – 31.