Glastonbury: Milking It?

The company that runs Glastonbury Festival has posted a pre-tax profit of £764,000 on reported ticket sales of £35m in 2013.

The accounts filed at Companies House for Glastonbury Festivals Ltd revealed £2.6 million in costs go to other companies owned by Michael Eavis and his family, according to The Guardian.

The costs include compensation payments for loss of farming earnings, land rent, stage hire, staff costs and management fees in addition to the profit posted by the company, which is also owned by Eavis.

In addition, the company made charitable donations worth £348,000. As reported, the festival sold-out in record time this year, shifting 135, 000 tickets in 25 minutes.