LONDON (CelebrityAccess MediaWire) — The MAMA Group had a good first half of the year, reporting a revenue increase of 132% to Â£12.72m during that period. Unfortunately, due to expenses incurred by the relocation of the headquarters, profits overall were down to Â£152,000 as opposed to Â£930,000 during the same period last year.
"Whilst this was disruptive in the short term we are pleased with both our new location and the level of costs we have achieved to house our head office staff." read a statement issued by MAMA.
Now that the move is behind them, MAMA is predicting a strong financial results for the second half of the fiscal year. – CelebrityAccess Staff Writers
The MAMA Group is a UK-based VC firm, focusing on the entertainment business. They have three arms, Live Music, Artist Services and Consumer and operate the Barfly group of venues, the Hammersmith Apollo, The Forum Club and interest in festival producer Lovebox. They also operate management, recording and production and marketing businesses. – CelebrityAccess Staff Writers