Studio expects first profit from TV deal
LIMERICK’S fledgling Troy Studios expects to turn a profit this year or next after winning the contract for ‘Nightflyers’, a series based on a book by ‘Game of Thrones’ author George RR Martin.
Newly filed accounts for the studio, covering the year to the end of October 31, 2017, show that its accumulated losses increased from €181,805 to €244,872.
“Significant pre-trading costs were incurred,” the accounts state, adding that the studio’s first contract commenced in August 2017.
“The directors are satisfied that the company will generate a profit in 2018-19.”
Troy is run by Siún Ní Raghallaigh, who is also the chief executive of Ardmore Studios in Co Wicklow.
A key investor in both studio projects is Joe Devine, the co-founder of well-known Irish private equity business Ion Equity, alongside Neil O’Leary.
Mr Devine recently led the acquisition of Ardmore from investors, including former U2 manager Paul McGuinness.
Troy is located on the site of the former Dell factory on the outskirts of Limerick. The site became vacant after the company decided to relocate operations to Poland in 2009, with around 2,000 jobs lost.
The studio has seen hundreds working there on the filming of ‘Nightflyers’.