Bad Wolf, the film and production company behind popular shows like Doctor Who, has reported a surge in profit. The Cardiff based firm posted a pre-tax profit of £10.5m for the year ending 31 March, 2024, according to accounts recently filed with Companies House.
This figure is an increase from the £7m recorded in the previous 12 months. The last time Bad Wolf reported a pre-tax profit over £10m was in 2020.
However, the company's turnover fell from £117.3m to £94.2m during the same period. Its º£½ÇÊÓƵ turnover dropped from £91m to £70m and from £26.2m to £24.1m in the USA.
Revenue generated from its projects in production also declined from £95.7m to £72.2m, but its turnover from project fees and recoveries slightly increased from £19.4m to £20.7m. Corporate income fell from £2m to £1.2m.
Cost of sales were down nearly £28m on the previous year to just over £78.8m. Its highest paid director received £669,000 compared to just over £410,000 a year earlier. No dividends were paid to shareholders, compared to £11m a year earlier.
Founded by Julie Gardner and Jane Tranter in 2015, Bad Wolf is majority owned by Sony Pictures Television. Besides Doctor Who, the company has produced A Discovery of Witches and His Dark Materials.
It is currently working on Coming Undone for Netflix, Dope Girls for Sony Pictures Television, and The War Between the Land and the Sea for BBC Studios and Disney+.
Creative Wales, the Welsh Government agency responsible for nurturing and expanding the nation's creative industries, last year provided £4m in funding for Bad Wolf to "consolidate its position and continue to grow in Wales".
The company, known for productions such as I Hate Suzie and The Winter King, will keep its main base at Wolf Studios Wales in Cardiff Bay.
The agreement ensures that a minimum of four Bad Wolf productions will be filmed and produced in Wales by March 2027. The Welsh Government also noted that the deal commits Bad Wolf to spend at least £60m in Wales over four years and provide at least 42 "meaningful" paid trainee placements on high-end productions.
The business directly employs 40, but supports far more in its extensive supply chain.
