U.K. indie record label XL’s Huge Year

U.K. indie record label XL’s profits climbed to a whopping $67 million in profits in 2011, thanks to Adele’s blockbuster 21 album, now approaching 10 million in sales in the U.S. and more than 24 million worldwide, as reported in U.K. trade Music Week. According to company filings, XL’s bank balance climbed from £3m to £32m ($51.4 million) during the year. The company paid an £8.5 million ($13.6 million) dividend to co-founderRichard Russell, while Beggars Group chairman Martin Mills, a vociferous opponent of the recently approved merger of UMG and EMI as a member of IMPALA, received a similar payout. (10/15a) [HitsDailyDouble]