Artist services firm sees losses

Pre-tax losses at the artist management company of U2 manager Paul McGuinness last year increased seven fold to €1.8m, figures show.

Accounts just filed by Principle Management Ltd to the Companies Office show that the firm’s revenues fell by 35% from €4.8m to €3.1m in the 12 months to the end of March last year.

The company provides artist management services and the returns show that Mr McGuinness, his long-time associate Trevor Bowen, and the US-based Keryn Kaplan received aggregate remuneration of €1.6m during the year.