T in the Park organiser slips into red

THE promoter of Scotland's largest music festival has plunged into the red after making a "significant" investment in establishing the Hydro Connect Festival in Inveraray.

DF Concerts, which is behind T in the Park, reported pre-tax losses of almost £1.1 million in the year to the end of March, compared with profits of £21,267 the previous year.

Geoff Ellis, managing director of DF, said: "The outlay to establish Connect was significant, but there were other costs, including investment in out infrastructure and a new accounting system."