Dundrum Town Centre cinema reels in moviegoers

New accounts lodged with Companies Registration Office show profits rising 38%

Movies@Dundrum reported a profit before tax of €167,121 for the year ending August 2015

Movies@Dundrum reported a profit before tax of €167,121 for the year ending August 2015

 

Movies@Dundrum, the 12-screen multiplex cinema located in Dublin’s Dundrum Town Centre, continued to draw film fans last year with profits rising 38 per cent.

Accounts recently filed with the Companies Registration Office show Movies@Dundrum Limited, which also owns the Movies@Swords cinema in the Pavilions Shopping Centre, reported a profit before tax of €167,121 for the year ending August 2015. This compares to a €121,128 profit 12 months earlier.

Gross profit fell to €5.19 million from €5.49 million as the cinema owner reported an operating profit of €188,866.

The company, which employed an average of 75 people during the year, said staff costs, including directors’ remuneration of €407,899, amounted to €1.58 million. This compares to costs of €1.69 million a year earlier, which includes directors’ remuneration of €370,000.

Movies@Dundrum said administration expenses fell from €3 million to €2.8 million over the year under review. A charge of €130,000 included in admin expenses was charged in respect of management fees.

Net assets totalled €5 million, up slightly from the €4.9 million recorded a year earlier.

The company has annual rent commitments of €1.28 million in respect of its 25-year lease which began in October 2005.

Accounts filed earlier this year showed Movies@Swords Limited reported a €55,829 loss for the 12 months ending August 2015 and had net current liabilities of more than €3 million.