The Favourite helps boost Element Pictures profits

The box office success of the multi-award winning ‘The Favourite' last year contributed to Element Pictures recording post tax profits of €473,053.

The Favourite helps boost Element Pictures profits

The box office success of the multi-award winning ‘The Favourite' last year contributed to Element Pictures recording post tax profits of €473,053.

New accounts filed by Element Pictures Ltd show that the company continued to make strong profits last year on the back of a string of critically acclaimed movies.

The Favourite was produced for $15m and enjoyed a world-wide box office of $95m with Olivia Coleman scooping an Oscar for her performance in the black comedy.

The movie had a limited US release in November of last year with the movie released here and in the UK last January.

The profits at Element Pictures last year followed profits of €689,681 in 2017 and profits of €756,059 in 2016.

The profits last year allowed founding directors, Ed Guiney and Andrew Lowe to share €300,000 in dividends and this followed a dividend payout for the two of €250,000 in 2017.

At the end of last year, accumulated profits at Element Pictures totalled €2.84m.

The company’s cash reduced from €2m to €1.22m during the year.

Numbers employed at the company last year remained at 26.

The success of The Favourite followed on from the global success of the Oscar-winning ‘Room’ and 'The Killing of a Sacred Deer' which was a breakout hit for young Dublin actor, Barry Keoghan.

The firm has offices in Dublin, London and Belfast and works across production, distribution, and exhibition.

Earlier this year, Element Pictures under the direction of Lenny Abrahamson commenced shooting a 12-part series adaptation of Sally Rooney’s best selling, Normal People for the BBC.

In recent years, the movie production firm has shot to the top of the industry here with Lenny Abrahamson’s films Frank, What Richard Did, Garage and Adam & Paul.

Element Pictures’ more recent productions on the small screen include ‘Dublin Murders’ for the BBC and RTE and the success of Dublin Murders followed other rating hits on the small screen including ‘Charlie’ and ‘Rebellion’ for RTE.

Element Pictures also operates Dublin’s Light House Cinema and Galway’s Pálás where the two venues employ about 60 people between them.

More in this section

IE logo
Devices


UNLIMITED ACCESS TO THE IRISH EXAMINER FOR TEAMS AND ORGANISATIONS
FIND OUT MORE

The Business Hub
Newsletter

News and analysis on business, money and jobs from Munster and beyond by our expert team of business writers.

Sign up
Puzzles logo
IE-logo

Puzzles hub

Visit our brain gym where you will find simple and cryptic crosswords, sudoku puzzles and much more. Updated at midnight every day. PS ... We would love to hear your feedback on the section right HERE.

Lunchtime
News Wrap

A lunchtime summary of content highlights on the Irish Examiner website. Delivered at 1pm each day.

Sign up
Revoiced
Newsletter

Some of the best bits from irishexaminer.com direct to your inbox every Monday.

Sign up