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Mon 08 Aug 2009Profits at Warner Music's Irish subsidiary increase by 70%
WARNER MUSIC Ireland grew its profits by 70 per cent to €713,615 last year, according to accounts filed with the Companies Office.
The Irish subsidiary of the international music label, whose artist list includes Enya, Eric Clapton, Green Day and Paulo Nutini, saw turnover for the year ended September 26th, 2008 slip to €10.26 million, from €10.54 million a year earlier. However, this fall was offset by a reduction in the cost of sales from €6.45 million in 2007 to just below €5.7 million, coupled with a €300,000 fall in distribution and promotion costs.
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