Business Irish

Tuesday 11 December 2018

Farrell movie helps Element Pictures to €690,000 profit

Picture perfect: Nicole Kidman and Colin Farrell in Element Pictures’ ‘The Killing of a Sacred Deer’
Picture perfect: Nicole Kidman and Colin Farrell in Element Pictures’ ‘The Killing of a Sacred Deer’
Dividend: Element Pictures shareholders Ed Guiney and Andrew Lowe paid themselves €250,000

Gordon Deegan

A thriller starring Nicole Kidman and Colin Farrell last year helped Dublin-based production firm Element Pictures to profits of €689,681.

'The Killing of a Sacred Deer' was yet another hit for the movie production company, earning positive reviews worldwide and was also a breakout hit for young Dublin actor Barry Keoghan.

The success of the film followed up on the global success of the Oscar-winning 'Room' and the firm looks like to have another hit on its hands with 'The Favourite' following a very strong opening weekend in the US.

The Oscar-tipped movie stars Oscar-winning Emma Stone along with Olivia Coleman and Rachel Weisz. The profits recorded by Element Pictures last year were an 8pc decrease on profits recorded in 2016.

The bumper profits of the last number of years allowed the shareholders, Ed Guiney and Andrew Lowe, to pay themselves a dividend of €250,000.

The two directors didn't take a salary from the firm last year.

The firm's on-screen success of recent years has led to a strengthening of the company's balance sheet with accumulated profits increasing from €2.2m to €2.66m.

In 2017, the company's cash pile increased by €317,101 from €1.76m to €2.079m.

The numbers employed by the firm last year decreased from 27 to 26.

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

'Room' has been the firm's most successful production to date with actress Brie Larson winning an Oscar for her performance in the movie.

The Oscar success' led to a worldwide box office of $36.3m - a great return for a movie that had a $13m budget.

Element's current productions include 'Dublin Murders' for the BBC.

Irish Independent

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