PROFITS AT Irish Multiplex Cinemas Ltd record dipped to €930,940 last year as moviegoers cut back on excursions in the economic downturn.
The figure was 1.6 per cent down on the €946,000 earned in 2010.
Directors said in their statement that they anticipate that 2012 will be “a difficult year, but they expect the company to achieve profits similar to 2011 by focusing on retaining existing business and tightly monitoring all costs”.
The firm – controlled by members of the Ward family – has multiplex cinemas in Dún Laoghaire, Tallaght, Athlone, Dundalk, Killarney and Ballymena.
The filings confirm that the directors have declared and paid a dividend of €144,000 in relation to the year to October 31st, 2009. However, they state that they “have deferred the decision on the payment of a dividend in relation to the year ended October 31st, 2011.
The figures show that Leo Ward and Paul Ward each owns 28 per cent of the firm.
The figures show that the firm’s operating profit declined by 2.7 per cent from €975,380 to €948,736.
