DUBLIN (CelebrityAccess MediaWire) — 2010 was a tough year for Live Nation's Irish division, which saw its profits halved, in part due to a lower dividend from one of their leading subsidiaries.
According to the Irish Times, filings by Live Nation Ireland revealed that the company posted a profit of €946,000 against €2 million in 2009, when their results were bolstered by a €2.25 million dividend from Amphitheatre Ireland Ltd, which operates the O2 Arena in Dublin.
Live Nation Ireland noted that the lower €1 million dividend the company received from Amphitheatre Ireland this year was not reflective of its trading performance.
Live Nation's Ireland division operates both the O2 in Dublin as well as the Grand Canal Theatre.
Live Nation Ireland's CEO Mike Adamson sounded guardedly optimistic about the future, saying that bookings for 2012 are "looking fairly strong." – CelebrityAccess Staff Writers