Granny's Brown Bag of cash is hair-raising
BROWN Bag Films, the Dublin animation studio that has been nominated for an Oscar next month for its short feature 'Granny O'Grimm's Sleeping Beauty', made an after-tax profit of €765,000 in the 12 months to the end of last April. That is down from €1.17m in the previous year.
Accounts that have just been filed at the Companies Registration Office show that Brown Bag Films had a retained profit of nearly €3m at the end of April 2009.
It also had cash of more than €1.8m, which was nearly double the amount it had held at the end of the 2008 financial year.
Brown Bag Films is owned by Darragh O'Connell and Cathal Gaffney. They established the company in 1994 and the successful animation studio was also nominated for an Oscar in 2002 for its short film 'Give Up Yer Aul Sins'.
The company has recently been working on a short film called '23 Degrees Five Minutes', which tells the story of a mathematics professor who is pushed to the brink of madness by a numbers series.
It is also embarking on a major 3D project and is hiring additional staff.
Last week, Mr Gaffney berated RTE for failing to spend more money on home-produced animated series.