Aardman sees revenues grow in 40th anniversary year

Creative Industries | Latest News | South West

Bristol born Aardman has reported strong revenue growth in what is its 40th anniversary year.

The latest results for Aardman Holdings Ltd show turnover of £26.3m in the year ending 31 December 2016, up from £23.6m in 2015. Of this, £7.1m was generated through the group’s feature film activities, up from £5.1m.

However, pre-tax profit dipped to £2.7m from £2.9m the year before.

Uncertainty surrounding Brexit and the US election has affected the company’s advertising division.

Kerry Lock, Aardman finance director, comments: “We are pleased with the steady results for 2016, despite a year of uncertainty particularly affecting the advertising market. We are currently busy completing Nick Park’s latest film Early Man and are very much looking forward to its release in early 2018.”

The group’s right division reported another record year underpinned by the worldwide success of the Shaun the Sheep brand and the development of content for YouTube and other digital platforms.

The advertising market was affected by “uncertainty surrounding Brexit and the US election”, with Aardman’s commercials division recording its lowest turnover figure since 2003, although it remained “highly profitable”.

New York-based animation business Nathan Love, which was acquired during 2015, experienced similar challenges to the UK business with revenue down against budget.

Aardman was founded by Peter Lord and David Sproxton.

The pair moved to Bristol in 1976 where the business created Morph for children’s programme Take Hart, its first professional production.

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