Entertainment group Sanctuary hailed the success of albums from artists including Mary J Blige and Morrissey as it announced strong trading in the past financial year.
Sanctuary, owner of the world's biggest live tour booking agency outside the US, said Morrissey's album You Are The Quarry sold more than 700,000 copies worldwide and was still selling well.
During the year to September 30, the management division also signed artists including Mary J Blige and Nelly.
The Libertines also helped results to meet expectations after the group's album sold more than 250,000 copies.
Sanctuary, which is based in London, has largely managed to buck the global slump in CD sales because many of its artists have well-established fan bases.
While conceding that it was not immune to these pressures, the group said its products were far less price sensitive.
The merchandising division also performed well, making particularly good progress in the US.
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