Pre-tax losses at Paul McGuinness’s artist management firm drop by 10%

PRE-TAX losses at the artist management company controlled by U2’s manager, Paul McGuinness increased last year by 10% to €253,821.

Accounts just filed by Principle Management Ltd show that the company’s revenues decreased by 19.5% from €6 million to €4.8m in the 12 months to the end of March last year.

The main activity of the company is the provision of artist management services and the returns show that Mr McGuinness, his long-time associate Trevor Bowen and the US-based Keryn Kaplan received remuneration totalling €1.55m during the year — a 34% increase on the €1.16m remuneration received in 2009.