Ed Sheeran’s UK tour promoter, ticketing firm and venue operator DHP Family, posted a £1.4m profit last year, according to new accounts filed with Companies House.
DHP Family, which co-promoted the pop star’s UK arena tour and 2018 stadium tour with Kilimanjaro Live, runs ticketing platform Alt. Tickets, as well as venues such as Rock City and Rescue Rooms in Nottingham, and London’s Garage and Borderline, and festivals including Splendour and Dot To Dot.
The firm’s profit after tax was £1,424,534, up 34.3 per cent on the previous year. It also saw its turnover increase by a quarter 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.”
Meanwhile, Kilimanjaro Live made a £767,300 profit last year, compared to £1.85m in 2016, while 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.