Hungary Sziget Festival seen in the red

Portfolio
Sziget Festival, one of Europe’s largest music festivals, has incurred losses this year, according to preliminary estimates, Est Media Holding, the listed owner of the event, has announced on Monday. In previous years the festival generated profit.
Est Media, however, emphasised that despite what looks like a loss at the moment, Sziget Kft., the organiser of the festival, will once again be in the black in 2011. The main factors behind the loss are the rise in costs and the insufficient rise in visitor numbers.
 

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