Film rights distributor sees 80% dip in profits

A LIMERICK-based TV, video and film rights distributor had an 80% drop in pre-tax profits last year in spite of increasing revenues by 22% to $32.9 million (€22.7m).

According to accounts filed by Nelvana International Ltd, the company’s pre-tax profits decreased from $5.48m to $1.1m in the 12 months to the end of August last.

According to the directors’ report, the Canadian-owned company — located in Limerick’s National Technology Park — expects the general level of activity to continue for the foreseeable future.