The Broadway production of “Les Miserables” helped boost the half-year profit of Auckland-based show business investor Strada Entertainment Trust to $NZ1.1 million.
The six-month profit to September compares with a gain of $NZ488,000 for the corresponding period in 1989.
Per director John Gow, “Les Miserables” comprised 61% of total revenue. Smaller contributions came from “The Phantom Of The Opera,” “Aspects Of Love,” the U.S. tours of “Les Miserables” and “Me And My Girl,” and “Miss Saigon.” Some residual income was generated from the Australian tour of “Cats.”
Gow said annualized earnings of the trust rose to 48.3¢ a share. SET has invested in 14 productions since the publicly listed unit trust began operating in mid-1987. It has a 66.5% interest in Stage Promotions (Two) & Co., a special partnership that has a 28% interest in “Les Miserables” on Broadway.