Fringe back from brink to hit profit

ORGANISERS of the Edinburgh Festival Fringe have recorded a profit of £300,000 - just two years after being taken to the brink of bankruptcy.

The collapse of its box office in 2008 led to the event being around 1 million out of pocket and in need of a 250,000 lifeline from the public purse.

However, record ticket sales, new grants, the scrapping of the costly Fringe Sunday event, and lucrative sponsorship deals have all helped turn around the Fringe's finances under new chief executive Kath Mainland.

Although the Fringe spent around 2.56m last year on the likes of staffing, marketing, running the box office and producing its programme, it generated 2.86m from ticket sales, fees from visiting groups, performers, sponsorship and grants.

Ms Mainland said: "Last year was another unprecedented success story."