The Paisley songwriter’s bank balance is still looking healthy, despite not releasing an album since 2014.
BY STUART MACDONALD
06:00, 18 FEB 2017
Paolo Nutini is singing all the way to the bank after his companies pocketed more than £1 million last year.
The star’s earnings are revealed in official documents which show his income from sell-out gigs across the globe following the release of his third album, Caustic Love.
Paolo, from Paisley, Renfrewshire, has enjoyed chart success with his three albums which have shifted more than five million copies.
Papers lodged with Companies House show his company P N Touring has total assets of £953,309. That includes £685,768 held in a bank account and £267,541 owed to him by debtors.
The 30-year-old hit maker owes £21,737 to unnamed creditors leaving him with a profit of £931,572 compared to £261,189 for the previous year.
A second company owed by him, Groovebutton Limited, has total assets of £110,670 and made a profit of £74,757.
And last May, the New Shoes singer pocketed a £2.5 million payday by dissolving a previous company that handled his profits.
He cashed in after putting his firm Paolo Nutini Touring Limited into voluntary liquidation.
Paolo, whose family run a fish and chip shop in Paisley, is a director of his companies along with his mother Linda.
He has built up a huge personal fortune since bursting on to the music scene as a teenager 11 years ago with his debut album These Streets.
Paolo, who released his third album Caustic Love in 2014, performed a worldwide tour in 2015 which saw him play dates in the UK, Australia, New Zealand, Canada and Dubai.
He headlined Edinburgh’s Hogmanay celebrations at the turn of the year and is about to embark on a South American tour.
He had taken a four year break from music after releasing his second album Sunny Side Up.
The musician later admitted that he was struggling with the pressures of fame and said finding a new hobby in carpentry helped him cope.
He has previously told how he is planning to channel some of his musical earnings into a charitable foundation.