PROFITS RECORDED by the holding company of entertainment venue operator Live Nation halved in 2010 after it was paid a lower dividend from one of its main subsidiaries.
Accounts filed at the Companies Office show Live Nation Ireland Holdings registered a profit of €946,000, down from €2 million in 2009, when it received a €2.25 million dividend from Amphitheatre Ireland Ltd, the company that operates Dublin’s O2. The lower €1 million dividend paid in 2010 was not a reflection of its trading performance, Live Nation indicated.
The company’s Irish venues and interests report their earnings via separate companies which are due to file 2010 accounts later this year. The most recent accounts for Amphitheatre Ireland show an after-tax profit of €7.15 million in 2009.
Mike Adamson, Live Nation Ireland chief executive, said bookings at the O2 and the Grand Canal Theatre, which it also operates, are “looking fairly strong” for 2012. The group is part of Live Nation Inc, the world’s largest live entertainment company.
