Northern Songs doubles their half-yearly earnings

Beatles’ earnings doubled

The Beatles’ Northern Songs Company have more than doubled their half-yearly earnings.

For the six months ended October 31 pre-tax profits rose to £422,000 compared with £204,000 for the corresponding period in 1965, and pre-tax profits for the full year are now estimated at not less than £810,000 compared with £613,000 for the previous year.

A statement said the big jump in profits was mainly due to late receipt of royalties earned in earlier periods and to the inclusion of profits from Lenmac Enterprises, which owns rights over a number of songs composed by John Lennon and Paul McCartney, acquired by the company in the last few days of the previous financial year.

Shareholders are getting an unchanged interim dividend of 24 per cent. A decision on the final will be made later “in the light of the fiscal regulations and prices and incomes policy then in force.”

From The Guardian – February 22, 1967

Beatle-boom warms up the City

It’s boom time again for the Beatles. And the City of London is smiling. Against a background of falling profits from the giants of industry, the giants of pop have rung up financial success. Northern Songs, which publishes Beatles’ hits, announced yesterday that profits in the six months ended last October have more than doubled to £422,000.

Chairman Mr. Emanuel Silver, who forecast last October that profits for the coming year would be £700,000, yesterday upped his forecast to £810,000. He is now paying a dividend of 5 3/4d a share. This means £17,856 — before tax — for Paul McCartney on his 744,000 shares. John Lennon will collect £15,456 on 644,000 shares. George Harrison and Ringo Starr, who each have 40,000 shares, will collect £960 apiece.

From Daily Mirror – February 22, 1967

SONGS BOOST

Profits of Northern Songs, which gets most of its income from music composed by Beatles John Lennon and Paul McCartney, more than doubled — from £205.000 to £422.000 — in the first half of the year. But late receipts of royalties and other factors helped to boost the figures, and profits for the full year are estimated at not less than £310,000 compared with £614,000. The interim dividend is a same-again 24%. The final will be decided later in the light of the freeze measures then in force.

From Evening Standard – February 21, 1967