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Profit drops for Simon Cowell post axing `X Factor`
Profit drops for Simon Cowell post axing `X Factor`

Johannesburg, Dec. 29 - Simon Cowell won't be having much cash to put in his bank as his company Syco's profits have fallen by over 40 million pounds.

The 56-year-old music mogul's venture made just 28.6 million pounds in the year up until March, a stark contrast to the 71 million pounds it made in the previous year, reports News24.com.

Cowell owns 40 per cent of Syco and his dividend is expected to be 10 million pounds, less than half of the 24.3 million pounds he took home 12 months ago.

According to sources, the company saw revenues fall after the US version of 'The X Factor' was axed. (ANI)

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