Festival chief predicts profit (From Ludlow Advertiser)

Festival chief predicts profit

LUDLOW Festival is staking its future on making a profit next year.

Newly released figures bear out last month's claim by the event's new chairman Ray Sykes that "If we lose money, we're in danger of having to fold".

The figures show that ticket sales for the showcase production in Ludlow Castle of Richard II were £65,000 under budget, with one third of the seats unoccupied.

Fortunately, around a half of the festival's events were in surplus.

The biggest boost came from the grand firework finale, starring the Abba tribute band Bjorn Again, which made a profit of £20,250.

Despite this, final figures show that the 2005 festival made an overall loss of £10,278 against a budgeted £20,000 profit.

"Our reserves are down from £60,500 to £50,200," said Mr Sykes.

"I'm determined to make a profit and I'm confident we will."

The emphasis will be on cost-cutting but ticket prices will not go up for next year's play Midsummer Night's Dream.

Mr Sykes hoped that bringing in internationally acclaimed director Glen Walford for the play would make the difference.

In 1999 Ms Walford directed Dream to a fortnight of packed houses and the production made a profit of £46,000.

"She is a very good director and the play is ideal for Ludlow," Mr Sykes said.

He is aiming to double the net income from the festival draw, which brought in £3,600 this year.

There will also be a fresh drive to recruit sponsors, many of whom have already pledged their support.