THE company behind a £24 million Game of Thrones studio tour in Banbridge has declared a 50 per cent increase in its turnover.
The John Hogg Group, which also owns Ulster Weavers and Holywood-based Orrs Travel, declared a pre-tax profit of £2.6m for the year ending April 2019 on the back of a £60.6m turnover for the 12 months.
Most of the new turnover (£18.5m) was largely the result of an October 2018 acquisition of J Rosenthal & Son Ltd. The Manchester firm is a leading supplier of bedding, curtains and cushions to the UK retail market.
Despite the deal, the directors of John Hogg described 2018/19 as “a disappointing trading year” for Ulster Weavers.
Outside the textile sector, the Northern Ireland group continues to operate a diverse business portfolio across the UK.
John Hogg’s activities include the manufacture and marketing of dyestuffs and markers for the petroleum industry. It also runs travel, finance and property businesses.
Now it is preparing to further diversify its business interests with a new tourism venture.
John Hogg Operational Ltd owns the Linen Mill Studios in Banbridge, which became a key production site for Game of Thrones. It’s now due to be transformed into a new tourism attraction themed around the globally successful television series. Around 194 people are expected to be employed once it’s fully up and running.
An economic assessment has estimated it could attract around 600,000 visitors a year, generating around £400m in tourist spending by 2030.
The group has already signed a licensing agreement with HBO for the tour. In the newly published accounts, the directors indicate much of the venture will be financed by the group: “The company is in the process of re-developing its 25-acre site in Banbridge and is confident that, together with its parent company and partners, it has the resources, both operationally and financially, to successfully deliver a world class tourism facility.”
Other aspects of the John Hogg group continued to perform in 2018/19.
John Hogg Technical Solutions saw turnover rise 11.7 per cent to £25.6m, despite what the company called “challenging market conditions”. Pre-tax profits came in at £2.2m.
The group’s property subsidiary, Killylane Properties, sold a large property in Falkirk at a loss during the 12 month period. But the group said it “was easily absorbed” by the general increase in its property assets, following a revaluation of its estate in April 2019.
The group said Holywood-based Orrs Travel also “performed well”. Despite a 11 per cent drop in turnover to £4.8m, pre-tax profits increased to £54,644.
The group’s textile business, Ulster Weavers was bolstered by the acquisition of J Rosenthal & Son during 2018/19. But the company said there was a general downturn in its kitchen textile business, which, following some re-structuring, resulted in a 46 per cent drop in pre-tax profits to £243,157.
The accounts reveal the deal for the Manchester firm was worth £4.6m. It saw the group’s workforce grow from 134 to a total of 234, with staff costs up from £5.3m to £8.1m.
Directors’ remuneration totaled £367,000 for the year, down on 2019. But the group’s highest paid director received remuneration of £134,00, an increase of £6,000 from 2018.
