Monumental sales of Adele’s 21 pushed profits at indie record label XL to a whopping £41.7m in 2011.
According to company filings, XL was left with plenty of cash as a result. Its bank balance climbed from £3m to £32m during the year.
The company paid an £8.5m dividend to co-founder Richard Russell, whilst Beggars Group chairman Martin Mills received a similar sum.
Adele’s 21 has sold more than 10 million copies in the US and spent 78 consecutive weeks in the Billboard Top 10.
Source: Sunday Times Business
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