3Arena sees profit halved

Sell-out gigs by pop superstars, Beyonce and Ed Sheeran at the 3Arena last year were not enough to prevent pre-tax profits at the firm that operates the venue declining by 50% to £2.5m (€3.6m).

New accounts just filed by the UK-based and Live Nation-owned Apollo Leisure Group Ltd (ALGL) show that the firm’s pre-tax profits reduced from £5m to £2.5m.

The firm recorded the drop in pre-tax profits after revenues decreased by 8% going from £16.73m to £15.35m in the 12 months to the end of December last year.