SJM revenues down 11% in 2018

SJM revenues down 11% in 2018

SJM has reported a year-on-year decline of 11% for revenues in 2018.

The promoter’s turnover hit £169.1 million in the year ending December 31, compared to £187.3m in 2017. The vast majority of that came from UK concerts, though Manchester-based SJM did bring in £913,569 from Europe.

Gross profit was down 6.8% at £16.32m, while net profit dipped 5.6% at £6.8m. 

The results for 2019 should see a significant boost from tours by the Spice Girls and Take That. Last year the promoter’s run of shows included Foo Fighters, The Killers and Stereophonics.

In its strategic report, the company identified foreign exchange risk as “potentially significant”.

A dividend of £6.42 million was paid out, compared to £5m in 2017.

SJM employed 70 staff last year, compared to 60 in 2017.

The promoter has a 75% stake in Eat Your Own Ears, as well as minority stakes in Hot Festivals, Mama and Wildlife Festival.

Earlier this week, DHP Family reported a revenue increase of 84%.

author twitter FOLLOW Andre Paine

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