Power's festivals jarred by fear of mudbaths
Waterford-born promoter Vince Power (above) was forced to issue a profit warning last week as ticket sales at two of his summer music festivals failed to take off.
Power's Music Festivals plc told shareholders last week it expected to make a "material loss" in 2012 and was "exploring ways of raising additional capital".
The veteran promoter was worst hit by the Hop Farm Music Festival in Kent, England, which was "loss-making" after "weaker-than-expected ticket sales".
Its biggest event, Festival Internacional de Benicassim in Spain, featuring Bob Dylan and the Stone Roses, made money but "at a much lower level than in 2011".
Sunday Indo Business