Good vibes at Electric Picnic keep festival profits ‘healthy’

Denis Desmond of MCD said yesterday that this year’s Electric Picnic recorded a "healthy" profit.

This year was the second successive year that the festival recorded a profit and new accounts filed with the Companies Office — by EP Republic Ltd — which operates the event, show that it recorded pre-tax losses of €1.18m in 2012. This followed EP Republic recording combined losses of €2.1m in 2011 and 2010.

Mr Desmond said this year’s festival sold out six weeks in advance and enjoyed excellent feedback from patrons and media. He said that ‘early-bird’ sales for next year’s event were “way up on previous years”.