Iron Maiden record label owner issues profits warning

Troubled music management firm Sanctuary issued a profits warning today as trading at its record label failed to meet expectations.

Sanctuary forecast full-year losses of between £17m (€25m) and £22m (€32m) for the year to September 30 compared with earlier City forecasts of profits in the region of £5m (€7.3m).

The massive cut came as Sanctuary said trading at its record label, which has Morrissey and Iron Maiden on its books, “will be below previous expectations”.