U2 firm needs elevation after €1.7m cash fall

The cash pile at a company controlled by the four members of U2 fell nearly €1.7m last year as the company slipped into the red.

New figures for the loss-making U2 Ltd show the firm’s accumulated profits plunged by €2m, from €2.978m to €975,837, in the 12 months to the end of December last.

Figures lodged with the Companies Office show the cash pile at the band’s firm last year dropped by €1.7m to €2.3m.