Open Mike, the biggest producer of stand-up shows on TV, has seen its annual profits soar by almost a third in a year, up to more than £4million.
According to official accounts filed at Companies House this week, the company made £4.13million pre-tax profits in the year ending in January, up more than 30 per cent on the previous 12 months. After tax, the 2011/12 profit was £3.04million.
The company has experienced a similar growth in the number of TV shows and DVDs on its roster, 22 compared to 15 the year before.
Its production slate includes Live At The Apollo, Michael McIntyre’s Comedy Roadshow, Stand Up For The Week and Alan Carr: Chatty Man. Many of its shows centre on comedians signed to its sister agency, Off The Kerb.
Open Mike paid its directors Addison Cresswell and Jack Dee almost £1million each in dividends in the last year. Cresswell is also the main partner in Off The Kerb.
With an annual turnover of £18.7million, the company – which employs 12 staff – makes an average 22 per cent profit margin on its productions
It also donated £100,000 to charity over the year and is sittingon £4.3million in the bank.