Helix Theatre puts on a good show as income surpasses €3m

Multipurpose venue at DCU also sees profits rise as shareholders’ equity increases

Pretax profits at the Helix jumped 35 per cent to €511,453 from €377,465

Pretax profits at the Helix jumped 35 per cent to €511,453 from €377,465

 

The Helix Theatre, the multipurpose venue which is located on the Dublin City University campus, reported a rise in turnover and profits last year, newly filed accounts show.

UAC Management, which runs the facility, recorded income of €3.2 million for the 12 months ending September 2016. This compares to turnover of €2.8 million a year earlier.

Pretax profits jumped 35 per cent to €511,453 from €377,465 with shareholders’ equity increasing to €810,976 from €301,773.

Operating expenses rose to €2.6 million from €2.4 million.

The venue, which employs 40 people, reported staff-related costs of €1.1 million for the year under review, up slightly on the €1.03 million recorded in the prior year.

The Helix, which has a capacity of 1,860, is owned by the university through DCU Commercial. It opened in October 2002.

Accounts lodged for the parent company for the same reporting period show losses narrowed last year as income edged up.

As well as the Helix, DCU Commercial is the ultimate owner of the incubation campus known as DCU Invent, and the university’s student residences.

Income for the parent rose to €461,822 from €429,245 last year as pretax losses fell to €125,588 from €186,332.

Operating expenses remained stable at €1.04 million as net assets slipped to €8.7 million from €8.8 million.