AceShowbiz - A record label set up by Amy Winehouse has proved a success - the singer's musical side project made a profit in its first year of business. The "Back to Black" star set up Lioness Records in 2009 and used the Island imprint to launch the singing career of her goddaughter, 14-year-old Dionne Bromfield.

The youngster released her debut album, "Introducing Dionne Bromfield", last year and the move appears to have paid off for Winehouse - her company made an impressive first year profit of $66,000, according to Britain's The Sun.

Winehouse herself is signed to Island Records and is due to release her third album. The singer herself stated that she plans to drop it before January 2011. "It's going to be very much the same as my second album, where there's a lot of jukebox stuff," she said back in July this year.