Theatre firm reports ‘substantial profits’

THE company operating the 2,111-seater €80 million Grand Canal Theatre in Dublin’s docklands is reporting “substantial profits” since it opened in March of this year.

In documents just lodged with the Companies Office, the directors for Grand Canal Theatre Co Ltd report that since the venue started trading on March 18 last, management accounts prepared “are reporting substantial profits with very strong box office sales and other third-party sales”.

The disclosure is contained in a ‘post-balance sheet’ event as the accounts cover the 14-month period up to February 28, 2010, when the company was not trading.