Windmill studio profits nosedive

DUBLIN-BASED studio Windmill Lane Pictures recorded pre-tax profits which plummeted by a massive 84pc last year to €135,570.

Gross profit at the group was cut by 26pc from €4.2m to €3m, according to accounts filed at the Companies Office.

The studio counts the advert featuring former Taoiseach Bertie Ahern in a cupboard among its recent post-production credits.

The company's chief executive, James Morris (above), said Windmill Lane was "happy to have made a small profit" in 2009.

"It is a long way short of what we were doing in 2006 and 2007," he said.

"That being said, in the circumstances we're glad to be in a position of thinking ahead and making plans."

The current chairman of the Irish Film Board, Mr Morris said that revenues in the domestic market collapsed at the start of 2009 due to the knock-on effect of TV programming cutbacks and a downturn in television advertising.