Bob Geldof firm Ten Alps plc’s profits down 68% to €3.2m in last year

Pre-tax profits at the media firm co-founded by Bob Geldof last year reduced sharply to £2.5m (€3.2m) as the business continued its restructuring.

New accounts just filed by Ten Alps plc show the group reduced its pre-tax profits by 68% from £8m to £2.55m in the 15 months to the end of last June.

This followed revenues increasing to £29.45m, from £27.64m in 12-month period to the end of March 2013.