Top performers boost profits at Aiken Promotions
Performers Paul Simon and Olly Murs contributed to music promoters Aiken Promotions maintaining profitability last year.
The Dublin-based promoters – currently riding high thanks to Bruce Springsteen's string of Irish concerts – maintained profitability despite falling visitors.
Figures provided by US trade industry journal Pollstar show that the numbers that attended Aiken Promotions gigs last year declined by 3pc or 13,640, from 365,836 to 352,196.
Aiken Promotions is unlimited and is not required to file accounts to the Companies Office.
However, an auditor's report recently filed by the firm with the Companies Office shows that the firm recorded a profit in the 12 months to the end of September 2012 and this followed the firm recording a profit in 2011.
The firm's UK arm is required to file accounts and its most recently filed accounts with Companies House in the UK showed that its cash pile increased from £3.8m to £4.27m in the 12 months to the end of January 2012.
The 140,000 attending the Springsteen concerts – accounting for 40pc of the total number who attended Aiken events last year in Ireland – is expected to add significantly to the firm's coffers this year.
Gross box office receipts on the Springsteen gigs are estimated to be around €13m, which will be split between artist, venue and promoter.
The firm declined to comment yesterday.