Ministry of Sound, the music business that runs the eponymous nightclub in London’s Elephant and Castle, has reported a 9% rise in club revenues to £5.97m in the year to 31 December 2011.

Average attendance rose by 4.6% and gross margin in the club business also grew from 33% to 38%.

Overall pre-tax profits for the group, which also operates record labels and runs more than 1,500 live music events globally under the Ministry of Sound and Hed Kandi brands, increased 121% to £3.45m.

Turnover fell from £42.1m to £38.2m. The firm attributed this decline to a shift from CDs to digital downloads, which generate lower income but higher margins.

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