MasterChef producer serves up ‘modest’ profit

Top rated shows The Voice and Celebrity Masterchef helped deliver a "reasonably successful' year for independent programme maker Screentime Shinawil last year.

According to finance director, Jim Gilmartin revenues for last year "are slightly less" than the €8 million recorded in 2012.

Revenues doubled to a record figure in 2012 as a result of the popularity of The Voice . Mr Gilmartin said that the firm recorded a "modest profit in the five figures" in 2013.

Mr Gilmartin was commenting on new accounts for Screentime Shinawil Ltd showing that its accumulated profits decreased from €760,642 to €561,110 in the six months to the end of December 2012.

Timing differences
He said that the drop in accumulated profits is attributable to timing differences as income is only recognised when the productions are broadcast.

"The company would have producing shows like The Voice 2 and Dragons' Den 5 during that period for the following year," he said. "The firm is in good financial health with reserves of around €500,000."

Mr Gilmartin said that The Voice accounts for "a significant chunk" of the firm's revenues and that it was exploring the potential to produce drama for the first time.

Established in 1999, with a staff of two, today it employs more than 20 full-time staff and Mr Gilmartin said that on a production day for a show like The Voice – which attracted almost one million viewers to RTÉ for its Irish final last year – it can have 100 people employed.

New series
Mr Gilmartin said the firm is shooting the sixth series of Dragons' Den and has already filmed another series of Masterchef that is going to be broadcast on RTÉ this summer.

The accounts show the firm’s shareholder funds last year totalled €618,374, and included €1.3m in cash.