Vince Power's Music Festivals plc is set to announce a full-year material loss, after its Hop Farm festival failed to turn a profit in 2012.

In a statement to investors which you can read below, the company blamed poor ticket sales and said it was now attempting to raise funds.

Hop Farm took place from Friday, June 29 to Sunday, July 1, with Peter Gabriel, Bob Dylan and Suede headlining.

Power's other summer flagship festival, Benaccasim in Spain, made a ...