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

31st July, 2016
4
Denis Desmond, brought Beyoncé to Croke Park in Dublin earlier this month Pictures: Getty and Collins

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.

...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

Neale Richmond: What happens in the North will affect all of us

Analysis: O’Brien needs to act to make sure Mullen Park does not happen again and again

Ireland should hold steady in the corporation tax debate

Economics Brian Keegan 4 days ago

Elaine Byrne: Online lynch mobs pose a real threat and have no place in our democracy

Politics Elaine Byrne 4 days ago