Revenues up 84% at Ed Sheeran promoter DHP Family

Revenues up 84% at Ed Sheeran promoter DHP Family

DHP Family has reported revenues of £58.3 million in 2018, an increase of 83.9% on the previous year’s results.

Ticket and event income accounted for £40.6m of the company’s turnover. 

The Nottingham-based promoter has worked on Ed Sheeran’s record-breaking tour. It also triumphed at the Music Week Awards in the Live Music Promoter (Company) category.

Profit was down from £1.4m to £334,400, though this was the result of a £1.4m impairment of fixed assets. Gross profit increased by 25.4% to £13.6m.

“The risks to the business in the coming years continue to be the keen competition in the late-night hospitality market and continued nervousness in the national economic landscape putting pressure on consumer spending,” according to the company’s strategic report. 

“Despite that, the brand position of our venues, the strength of our management team along with our wide-ranging knowledge of the industry and cash position leaves us well placed for the coming year.” 

DHP recently opened a music pub in Islington, following the shuttering of the famous Borderline venue.

The company employed 376 staff last year, up slightly on 2017.

author twitter FOLLOW Andre Paine

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