The normal royalty rate in the US is 5% of the list price.Dunno what it is in the UK, but 48 p sounds a bit low, but not by a hell of a lot. The sad truth of folk CDs is that the only way for an artist to make any money from them is to hawk them at concerts. Profits there range from 200 to 400% of cost. With very rare exceptions, trying to live off royalties is an exercise in pure futility.