Ed Sheeran's UK tour co-promoter posts £1.4m profit for 2017

Ed Sheeran's UK tour co-promoter posts £1.4m profit for 2017

Multi-faceted venue operator and promoter DHP Family posted a £1.4 million profit last year, according to new accounts filed with Companies House

DHP co-promoted Ed Sheeran's 2017 UK arena tour and 2018 stadium tour (excluding Scotland) with Kilimanjaro Live. It also runs venues such as Rock City and Rescue Rooms in Nottingham, and London's Garage and Borderline, and festivals including Splendour and Dot To Dot, along with the ticketing platform Alt. Tickets. 

Profit for the year, after tax, was £1,424,534, up 34.3% on the previous year's £1,060,647. Turnover also increased 25.1% year-on-year from £25.3m to £31.7m. 

"Our financial performance for the year end 2017 continues to be strong, with turnover increasing to £31.7m up from £25.3m in 2016," states the filing. "Turnover increased across the board both within the venues and live divisions. Gross profit increased 20.6% as a result of an improved performance across most sites.

"The live division had a strong year, with excellent festivals adding to the bottom line. Continued investment in our ticketing business has resulted in further growth to sales."

Kilimanjaro Live, which filed its financial statement for 2017 in June, made a £767,300 profit last year, compared to £1.85m in 2016. Turnover for 2017 was £29.8m, down slightly from £30.4m in the previous 12 months. 

"The consistent level of turnover was due to another strong year including the return of some household names that the company works with, plus the progression of new and emerging talent into larger venues," says the report.

Kili and DHP will also promote Sheeran's "homecoming" shows in 2019 at Leeds’ Roundhay Park on August 16-17 and Chantry Park in Ipswich on August 23-24. 

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