XL Recordings posted a profit of more than £41 million in 2011, it has been revealed.
Launched during the rave era, XL initially played host to groups such as The Prodigy as well as launching crossover hits like 'Sweet Harmony'. Since then, though, the label has diversified and expanded beyond any predictions.
Still based in West London, XL Recordings now works with a few bona fide global stars. Adele has been nurtured by the label, who reaped the benefits of her astonishing success. '21' broke a number of records in 2011, helping the imprint to post profits of some £41 million.
Sunday Times Business supplement revealed the figures, with Richard Russell being paid an £8.5 million dividend. Beggars Banquet chief Martin Mills heads up the label's parent company, and was rewarded with a similar amount for his part in XL's success.
Here's 'Someone Like You'.