Fassbender to direct Ardmore into profit
Published 12/01/2013 | 05:00
Ardmore Studios is projecting a return to profit this year after securing two major productions, including one led by Hollywood stars Michael Fassbender and Maggie Gyllenhaal.
The projected return to profit comes only months after the Co Wicklow studio was threatened with possible closure after it missed out on a contract for US television series 'Vikings' to neighbouring Ballyhenry Studios.
Ardmore chief exec Siun Ni Raghallaigh said yesterday that the studio will record a loss in 2012.
But she added the company will "return to profitability in 2013" – thanks to 'Frank', starring Michael Fassbender and Maggie Gyllenhaal; and Jam Media's BAFTA winning children's TV series 'Roy' for the BBC, starring Simon Delaney and Cathy Belton.
Newly lodged accounts show the company's accumulated losses increased by €987,622 from €338,192 to €1.325m in 2011.
This followed the company recording a pre-tax profit of €386,094 in 2010, which was boosted by the filming of 'The Tudors'.
Ms Ni Raghallaigh said Ardmore's shareholders – U2 manager Paul McGuinness, Dublin businessman Ossie Kilkenny and Enterprise Ireland – "remain committed to the studios and are fully supportive of the future plans".
Ardmore first opened in 1958 and has been involved in 100 feature films, including Mel Gibson's 1994 epic tale, 'Braveheart'.