50% PAY HIKE AS EQUITY FIRM’S TURNOVER FALLS

Six partners — Richard Campin, Hugh Richards, Chris Graham, Tom Sweet-Escott, Richard Lenane and Richard Tudor — shared £1.5 million profits even though turnover fell from £9.7 million to £7.1 million.

The highest-paid member of the group took home £237,500 for the year to April, up from £175,000 in 2008 when total profits shared were £1 million. A spokesperson for Exponent declined to comment on the company’s accounts.

Exponent provided the clout for West End stage company Ambassador’s to buy the theatre arm of Live Nation, making Ambassador Britain’s largest theatre company.

The surprise deal gave Ambassador control of venues including the Edinburgh Playhouse, London Lyceum and London Apollo.

Critics warned the acquisition could damage independent playhouses and lower the quality of performances.