Ministry Of Sound pre-tax profits doubled in 2011

Tom Pakinkis

Ministry Of Sound’s pre-tax profits doubled last year, reaching almost £40m turnover for its core business.

New accounts for the company showed turnover of £38.2m for the 12 months ending December 2011 – with £25m of that coming from recorded music.

The Ministry Of Sound Licensing arm saw a pre-tax profit of £3.45m while digital music revenues increased by 28% last year, improving overall gross margins on recorded music from 26.3 – 30.4%.

Gross revenues for Ministry Of Sound Group ...

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