We are delighted by the performance of our investee, Gala Festival (trading as Assembled Gala), whose South-East London, music-based festival took place between 30 July and 1 August.

The event was staged over three days for the first time, to cater for unprecedented ticket demand after the initial two days sold out within hours. On-site revenues were also phenomenally strong - bar takings over the three days were a whopping 30% above target, as the very British weather failed to dampen audience enthusiasm.

The execution (including covid-secure entry requirements) and financial performance of the event are a credit to Jonathan Edwards, Giles Napier and the Gala management team who have shown trademark resilience and adaptability over the past year and a half.