TV hits boost profits at ‘Love/Hate’ producer

Octagon Films, the maker of the Love/Hate television series, saw a positive swing of €74,365 in its profit and loss account last year, according to figures posted at the Companies Office.

James Flynn, managing director and co-founder of the company said yesterday that the new series of the award-winning crime drama would match the standards set by last year's hit series. He added that the performance of Octagon is not representative of Octagon's overall business as the firm sets up a number of special purpose companies for its various projects.

He said that between 800 and 900 people are employed on Octagon’s various projects this year but declined to comment on the revenues or profits generated by the overall business in 2012.

Figures for one Octagon subsidiary, Tiber Productions Ltd, show net assets totalling €2.5 million at the end of 2012 while a second, Metropolitan Films, last year increased its accumulated profits by €289,851 to €828,171.

Since the company was established more than 14 years ago, Octagon has produced more than 70 feature films and TV series. Mr Flynn said that last year's Love/Hate "caught fire".

He said: "It became a phenomenon. It was the third series but it took a long time before Breaking Bad and The Wire caught fire."

Mr Flynn said that the final two episodes of the upcoming series are in post-production, with the series due to air later this autumn.