MAMA Group, the Aim-listed live music company, reported a pre-tax profit of £2.14m for the 12 months to 31 July 2007, against a £129,000 loss during the previous year.
The company said that trading since the year end had been in line with expectations and that it was confident about its prospects for the remainder of 2008 and beyond.
The group, which owns and operates venues including Hammersmith Apollo, Barfly and the London Forum, reported that turnover for the year increased 39%, while revenues totalled £12.2m.
During the year the company acquired the Hammersmith Apollo and the Forum Club, and followed this with the purchase of Mean Fiddler Holdings in August.
Adam Driscoll and Dean James, co-chief executives, said: “The last 18 months have seen us consolidate our position as one of the UK's leading music businesses.
“We have the largest number of live music venues in the UK and jointly own the largest artist management collective in the world at a time when all major music groups are re-engineering their businesses to get closer to artists.
“Our balance sheet is strong, our trading prospects are underpinned by industry dynamics and we have the ability to take advantage of scale deals as a result of our growth.”
