The theatre group owning the venue for Harry Potter and the Cursed Child has recorded a record profit for its latest financial year.
Nimax Theatres reported a pre-tax profit of £10m for the 12 months up to 29 September, 2024, according to newly filed accounts with Companies House, as reported by .
This figure is an increase from the £7.5m pre-tax profit reported for the previous year. The group, which owns several prominent theatres including the Palace, Garrick, Duchess, Vaudeville, Apollo, and Lyric theatres, also saw its turnover rise from £32.8m to £35.5m.
A board statement read: "Weekly trading results were consistently strong throughout much of the year."
The statement attributed much of the year's strong performance to the ongoing success of long running shows. It continued: "The company continued to invest in its theatres and, despite a full programme of shows playing at all the venues, managed to deliver a programme of maintenance and replacement during the year."
Furthermore, "Good overall demand for the Nimax shows has helped to underpin strong levels of advance bookings and cash reserves during the year."
Harry Potter and the Cursed Child theatre success amid stage show losses
This news comes after reports from City AM in December highlighted that the company behind Harry Potter and the Cursed Child stage play had incurred losses despite the presence of sales and show closures.
The joint venture responsible for the global production of the show reported a turnover of £41.3m for the year ending 31 March, 2024, a decrease from the previous year's £45.2m.
Documents submitted to Companies House revealed that its pre-tax loss reduced from £960,026 to £876,003 during the same timeframe.
The last occasion the joint venture posted a pre-tax profit was in the year ending 31 October, 2020, with a figure of £955,945.
Harry Potter Theatrical Productions, established by JK Rowling and Neil Blair in 2013, is tasked with developing and producing the stage play Harry Potter and the Cursed Child.
The team collaborates with Sonia Friedman Productions and Colin Callender's Playground via their joint venture, HPCC Group, to produce, invest in, or licence the play.
