Sony Music UK annual pre-tax profits grow 128% to £15.2

RHIAN JONES

Sony Music UK revenues dipped 2.4% to £191m in the 12 months to March 31 2012, but international demand for artists such as One direction and Paloma Faith grew pre-tax profits 128% to £15.2m.

Meanwhile, Simco saw turnover nearly double from to £54.7m from £28.1m YoY, pre-tax profits climbed 38pc to £32.6m.

According to The Telegraph, other artists to help grow the labels profits with new releases in the 2011/2012 financial year included The Vaccines and Neil Diamond.

Chief ...

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