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Music rights investor Hipgnosis Songs Fund booked a 7.3% rise in annual profit after it boosted royalty income from a rapidly expanding song catalogue.
Pre-tax profit for the year through March increased to $44.5 million, up from $41.5 million year-on-year.
The company's statutory net profit rose by 22% to $38.9 million, owing to a lower tax bill.
Revenue jumped 66% to $138.4 million and the company's operative net asset value per share, excluding dividends, increased 11.3% to $1.6829p.
Hipgnosis Songs Fund declared total dividends for the year of 5.125p per share and upped its annual dividend target 5% to 5.25p per share.
'We are delighted to announce a strong set of annual results which reports on a remarkable year for Hipgnosis,' chief executive Merck Mercuriadis said.
'Whilst we would never have wished for a pandemic, it has not only demonstrated the predictable, reliable and uncorrelated nature of the income of proven Songs, but also accelerated the change in consumer behaviour to consuming music by streaming.'