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Pearl & Dean, the cinema advertising heavyweight, is optimistic that upcoming blockbusters Wicked and Gladiator 2 will propel it back into profitability.

The company, based in London, recorded a pre-tax loss of £1.7 million for 2023, despite a surge in popularity for movies like Barbie, Oppenheimer, and Wonka, as reported by .

This downturn follows a profitable year in 2022 when Pearl & Dean enjoyed a pre-tax profit of £1.6 million.

According to the latest accounts filed at Companies House, the firm also saw its turnover decrease from £20.7 million to £19.3 million year-on-year.

Established in 1953, Pearl & Dean is currently under the ownership of Willowbrook Investments.

Pearl & Dean buoyed by Barbenheimer success

In a statement approved by the board, they reflected on the impact of the Covid-19 pandemic: "Following continued profitability in 2019, during 2020 and into late May 2021 the business suffered along with the rest of the world from the Covid-19 pandemic."

The statement continued: "During the rest of 2021 the business continued to recover as cinemas and advertising revenue streams opened up and in 2022 the directors restored the business to its pre-Covid-19 levels."

Highlighting the achievements of 2023, the board noted: "The success of 2022 continued into 2023 which saw record breaking audiences in the º£½ÇÊÓƵ with the overwhelming popularity and the commercial success of films such as Barbie, Oppenheimer and Wonka, which have also been hugely popular with advertising agencies and the brands they represent."