‘Penny Dreadful’ boosts profits at Ardmore

The shooting of the hit series, Penny Dreadful, at Ardmore Studios, earned the company that operates the studios profits of €1.34m last year.

‘Penny Dreadful’ boosts profits at Ardmore

New accounts, just filed by Ardmore Studios Ltd with the Companies Office, show that the Co Wicklow studios enjoyed another strong year. It has recovered from making a loss in 2012 and 2011.

The company had accumulated profits of €865,578 at the end of December, compared with an accumulated loss of €484,903 at the end of 2014 — a positive swing of €1.34m.

The profits last year follow profits of €1.35m in 2014, and profits of €340,000 in 2013. This follows losses of €851,873 in 2012 and €987,622 in 2011.

The film studio, in which former U2 manager, Paul McGuinness, and accountant, Ossie Kilkenny, are majority shareholders, saw its cash pile last year increase from €1.68m to €2.67m.

The three series of the Sky Atlantic and Showtime hit, Penny Dreadful, have been shot at Ardmore, but the studios last month received a blow, when it was announced that there would be no fourth season for the drama.

Others credits for Ardmore include The Tudors, Camelot, Moone Boy, and the critically acclaimed movie, Frank. Numbers directly employed by Ardmore last year decreased from 13 to 12, with staff costs increasing marginally from €690,792 to €696,345.

Ardmore had expanded by opening its Ardmore Film Factory, an additional production facility in Bray, which contains over 30,000 sq ft of additional studio space and 11,000 sq ft of office space.

This provides opportunities for productions of all sizes to utilise the facility.

Last year, CEO, Siún Ní Raghallaigh, told the Government that the cap on film tax relief would need to be increased to at least €100m to lure Hollywood blockbusters to Ireland.

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