The consolidation policy seems to have paid off. With the sale of an AM Radio station the framework of Mean Fiddler is now completely focussed on the core business of the company. This company structure now relies on a three-pillar model divided between the business sectors: Festival, International Touring and Live Music Venue. After the disposal of 4 bars and restaurants, Bartok, ION, Point 101 and Powers, in June 2003 for £2 million, the company completed the sale of the radio station for £ 1.5 million (£1 million in cash with the outstanding amount deferred to the end of March 2004). Furthermore Mean Fiddler has now received £1.65 million compensation from Islington Council in settlement of litigation regarding the live music venue 'The Complex' in January 2000.

Within the current Ad Hoc release, the company also announced successful festival business results in 2003. While no profit forecast has yet been made, Mean Fiddler announced their intention to do so, when half year business results are be revealed at the end of this month.

Chairman Vince Power, was quoted in the recent release as saying: "I am very pleased with the turnaround in the performance of the Group. Since June 2003 we have concluded our disposal programme of non-core businesses raising over £5 million cash through the sales of the Radio Station, the bars as well as the litigation settlement with Islington Council. The Group now has three core profitable divisions: Festivals, International Touring and Live Music Venues and we intend to use some of the proceeds to expand these three divisions. I believe that the future for Mean Fiddler will continue to be exciting as well as profitable."

Following last week's share rise of more than 30 %, from 18 to 25 pence, Vip News asked a company representative about the company's stock market expectations. He replied, "In the past there has been limited interest from institutional investors as the stock had been regarded as too small. But now, as the market capitalisation grows, over the coming months the Company will be talking to a number of funds who have expressed interest in Mean Fiddler." In addition to this he added: "The Company will be looking to roll out it's Jazz Cafe brand to key Cities across Europe in the near future, giving them greater buying power for artists and the ability to offer acts multiple dates."