The latest set of Spotify UK financials reveal that the company turned a profit for the first time in 2013.

Spotify Ltd revenues climbed 41.8% year-on-year – from £92.6 million in 2012 to £131.4 million in 2013 – resulting in a net profit of £2.6 million in 2013 compared to an £11 million net loss in 2012.

The company’s UK advertising revenues rose 12.3% from £9.1 million in 2012 to £10.2 million in 2013, while subscription revenue rose almost 42% ...