Profits at TV firm dip slightly

Top-rated shows The Voice and Celebrity Masterchef last year helped to deliver a “reasonably successful” 2013 for production company Screentime Shinawil.

That is according to Jim Gilmartin, finance director at the independent Dublin-based production company, who said revenues for 2013 “are slightly less” than the €8m recorded the previous year; 2012 was a record year for the firm with revenues doubling as a result of The Voice.

Mr Gilmartin said the firm recorded a “modest profit in the five figures” in 2013. He was commenting on new accounts for Screentime Shinawil Ltd showing that accumulated profits fell from €760,642 to €561,110 in the six months to the end of December 2012.

Mr Gilmartin said that the drop in accumulated profits is attributable to timing differences as income is only recognised when the shows are broadcast. He explained: “The company would have produced shows like The Voice two and Dragons’ Den five during that period for the following year.”

He said: “The firm is in good financial health with reserves of around €500,000.”

He said that The Voice accounts for “a significant chunk” of the company’s revenues and that the firm was projecting similar revenues this year with a slight increase in profit.

He said CEO, Larry Bass, “is busy knocking on doors in the UK and mainland Europe and if something lands from those two areas, revenues will be in time a lot bigger”.

Mr Gilmartin said the firm, which was founded in 1999, was exploring drama for the first time.

The company employs over 20 full-time staff and Mr Gilmartin said that on a production day for a show like The Voice — which attracted almost 1m viewers to RTÉ for its Irish final last year — can have 100 people employed.

Mr Gilmartin said that the firm is currently shooting the sixth series of Dragons’ Den and has already filmed another series of Masterchef.

The firm’s shareholder funds totalled €618,374 last year including €1.3m in cash.