Ridley Scott's production company reports £2.6m loss after battling 'turbulent waters'
Ridley Scott Associates has reported a pre-tax loss of £2.6m for the 12 months to 30 September, 2023, according to newly-filed accounts with Companies House
by Jon Robinson www.cityam.com · ChronicleLiveSir Ridley Scott's production company, Ridley Scott Associates, has reported a pre-tax loss of £2.6m for the year ending 30 September 2023, as revealed in recently filed accounts with Companies House. This comes after the firm posted a pre-tax profit of £407,228 the previous year.
Despite the loss, the company saw a slight increase in turnover from £29.4m to £29.7m during the same period. The London-based business specialises in advertising, creative and entertainment production, including live action, stills photography, social media, unscripted TV and live events, as reported by City AM.
The company's UK turnover rose from £17.5m to £21m, but it experienced a drop in Europe, falling from £6.2m to £3.4m. There were also slight decreases in the USA, from £2.3m to £2.1m, and in other parts of the world, from £3.2m to £3.1m.
Founded in 1968 by Ridley Scott and his brother Tony, the company remains under Scott's ownership, with his children, Luke and Jordan, serving as directors. The company filed its accounts for the year to 30 September 2023 three months after the Companies House deadline and is expected to publish its results for the year to 30 September 2024 by the end of June 2025.
In a statement approved by the board, it was noted: "The year... was a year for the global entertainment industry and the country."
"The heart of the entertainment industry (Hollywood) went on strike, pausing productions in features and TV."
"This causes a backlog for all productions, which delayed everything."
"RSA continued to convert most of its pipelines at the higher end, which enabled us to navigate the turbulent waters of the global industry."
Ridley Scott Associates commented: "Management continues executing the strategic plan, focusing on growing new areas of the business and developing our global reach."
"The initial investment is starting to show signs of maturing into a harmonious, solid and secure business."
Sir Ridley Scott was born in South Shields and is best known for directing films in the science fiction, crime, and historical drama genres.
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