Mackintosh and Lloyd Webber both report increased profits

Michael Quinn

Two of the UK’s leading theatre operators, Delfont Mackintosh Theatres and the Really Useful Group, have reported increased turnover and double-digit rises in profits for 2009/10.

Operating seven theatres in London’s West End, Delfont Mackintosh Theatres Ltd, owned by impresario Cameron Mackintosh, saw turnover increase by 12.4% in the year to the end of March 2010 to £31.2 million, to push profits before taxation up by 70.5% to £8.8 million.

Andrew Lloyd Webber’s Really Useful Group, which has a portfolio of 16 shows, six West End venues, and a 50% share in the Adelphi Theatre, also enjoyed a recession-proof year to report an increase in operating profits of 10% to £17.9 million. The UK remains the group’s most lucrative market, where turnover rose by 29.8% to £125.5 million.

Delfont Mackintosh was buoyed by the continuing success of West End staples Les Miserables, The Phantom of the Opera and Mamma Mia! in its theatres, with Enron also breaking box office and attendance records at the Noel Coward Theatre following its transfer from the Royal Court.

For the Really Useful Group, the continuing success of The Phantom of the Opera and the launch of its sequel, Love Never Dies, which opened at the Adelphi Theatre in March last year, together with a 46% leap in turnover in its operations in Australia and South East Asia (to £7.8 million) were key factors in its improved performance.

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