U2 and Fleetwood Mas last year helped the Live Nation firm that operates the 3Arena in Dublin to double its pre-tax profits to £5.16m (€6.19m).

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).

Sold-out concerts by One Direction and Van Morrison at Dublin’s O2 last year were not enough to prevent the group that operates the venue incurring a 17% drop in pre-tax profits to £4.99m (€5.83m).