Profits up at 'Cutting Edge' TV company
The firm behind the award-winning RTE hit show 'Cutting Edge' continued to make strong profits last year.
New accounts show that Mind the Gap Films Ltd recorded profits of almost €150,000. This followed the Dublin-based TV production firm recording profits of €88,448 in 2016. The company - established in 2001 and led by Bill Hughes and Bernadine Carraher - regularly works on large-scale productions with budgets of over €1m.
The IFTA-winning 'Cutting Edge' is fronted by journalist Brendan O'Connor and recently completed a successful third series. Other productions by Mind the Gap include 'Lords & Ladies' and 'Healthy Appetite'. The company specialises in television entertainment, music, documentaries and other factual programming.
The new accounts show that the company's cash pile reduced from €336,188 to €128,400 in the 12 months to the end of June last. The firm expanded its workforce during the year going from seven to eight with staff costs going up from €272,969 to €305,732. Pay to directors last year increased from €130,116 to €144,119, made up of €117,719 in emoluments and €26,400 in pension contributions.
In 2016, RTÉ spent €40.3m on independent productions. The broadcaster received 884 pitches and commissioned 130 of them.