:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/HVOMZLXEPQJT6GGASWWDI2UECM.jpg)
Octagon Films, the production company that has been embroiled in a High Court drama with a German investor, reported a drop in profits last year, newly filed abridged accounts show.
The company, controlled by film producers Morgan O'Sullivan and James Flynn, reported accumulated profits of €161,782 for the 12 months to end-September 2017. This compares to profits of €298,494 a year earlier.
Founded by Mr O'Sullivan, Mr Flynn and Juanita Wilson, Octagon is a production company that has been involved in over 70 feature films and television series.
Among the Ardmore Studios-based company's biggest successes are Love/Hate and The Borgias. It was also behind Calvary, the John Michael McDonagh directed movie that starred Brendan Gleeson.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/G3RA3RP44FYUZNQLLSI5UUAWLE.jpg)
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/GIW5O5DX5X6HVB5QY2T63WWNZA.jpg)
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/E6KMTRJW55HA3WZ444HPHB6T6I.jpg)
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/SP5GN2XJP7B6ONQ5RM4ITOGBDI.jpg)
The company was recently involved in a court action over the alleged diversion of funds when Berlin-based W2 Filmproduktion Vertriebs sued Mr O’Sullivan and Mr Flynn.
W2 claimed it had lost estimated revenues of €25 million in relation to activities of Octagon, in which W2 has a 49 per cent stake. The case is due to be heard in the High Court in November .
:quality(70)/s3.amazonaws.com/arc-authors/irishtimes/016623f1-a68b-427c-b57b-ea9950f2c2e4.png)
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/OEJH4J26O5AYXCS2RGZU5JOCXY.png)