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XL profits hit £41.7m in Adele's record year

Tim Ingham
XL profits hit £41.7m in Adele's record year

Monumental sales of Adele's 21 pushed profits at indie record label XL to a whopping £41.7m in 2011.

According to company filings, XL was left with plenty of cash as a result. Its bank balance climbed from £3m to £32m during the year.

The company paid an £8.5m dividend to co-founder Richard Russell, whilst Beggars Group chairman Martin Mills received a similar sum.

Adele's 21 has sold more than 10 million copies in the US and spent 78 consecutive weeks in the Billboard Top 10.

It has sold more than four million copies in the UK after being released in January last year, outselling Michael Jackson's Thriller in the process.

Source: Sunday Times Business

 

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Tags: XL, Adele

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