EXCLUSIVE: Sony Pictures Television producer Electric Ray has turned a profit for the first time since launching in 2014.
The company, which made BBC Two’s My Million Pound Menu and soccer series Class of ’92: Out of Their League, posted a pre-tax profit of £74,000 ($97,000) in the 12 months to March 2019.
According to the earnings, filed with the UK’s Companies House, the profit was a considerable improvement on the loss of £570,000 Electric Ray reported in the year to March 2018.
The indie’s revenue stood at £6.3M in 2019, which was up 43% on the £4.4M it generated in the previous year. Some £5.5M of the revenue was made in the UK, where the company is run by managing director Meredith Chambers.
The earnings showed that Electric Ray employed seven people over the year, while the highest-paid director — likely to be Chambers — took home a salary of £160,000.
Electric Ray is currently making BBC job-swapping series Call That Hard Work, while the producer is also attempting to salvage Relative Strangers after Deadline revealed it is having issues casting the Channel 4 show.