Tax bill pushes U2 firm into the red

A TAX bill of €143,558 paid by a company controlled by the four members of U2 last year pushed the company into the red.

In accounts just filed by U2 Ltd, they show that the company recorded an operating profit of €575,500 to the end of December last after sustaining an operating loss of €870,667 in 2008.

The company recorded the operating profit after it increased its gross profit more than threefold from €618,415 to €2.2 million last year. No figure for turnover is provided.