Booty fall: spending spree hits Desmond’s bottom line
Company recorded a loss of £30,995 last year, compared to a profit of £1.8m
Profits at concert promoter Denis Desmond’s joint venture with US events company Live Nation were wiped out last year as the company went on a £17 million (€20 million) spending spree, acquiring two smaller players in a major expansion.
Despite a 39 per cent increase in the number of shows put on by the LN-Gaiety Group, the British company recorded a loss of £30,995 last year, compared to a profit of £1.8 million in 2014.
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