TOWIE producer sees revenues climb

LIME Pictures, the private equity-owned production company behind The Only Way Is Essex and Hollyoaks, saw a 20% rise in turnover last year to £58.7m.

But newly-filed accounts for the year to the end of August show margins tightened from 24.7% to 19.7%. Pre-tax profits were down slightly, from £11.4m to £10.9m.

A dividend of £11m, up from £7.5m, is being paid to shareholders.

Lime, which has its main based in Liverpool and employs 300 staff, is owned by All3Media, which in turn is owned by the private equity group Permira. It started out as Phil Redmond’s Mersey TV and was sold to All3Media in 2005.

In their report the directors said: “The commercial environment in which the company operates remains competitive, but the directors believe that the company’s position as one of the leading television production companies will enable it to maintain its current position in the future.”

Since the year end chief executive Lesley Douglas, a former Radio 2 controller, has stepped down. Managing director Claire Poyser and chief operating officer Kate Little now lead an executive team.