Profit at the maker of shows including 007: Road to a Million surged during its latest financial period despite its revenue being slashed.
London-based 72 Films, which is part of the Fremantlemedia Group, has reported a pre-tax profit of £4.7m for the nine months to the end of 2023, according to newly-filed accounts with Companies House.
The business also reported a revenue of £26.4m for the period.
The totals come after 72 Films changed its financial year to the full calendar year.
For its previous accounting period, the 12 months to 31 March, 2023, the maker of 007: Road to a Million reported a revenue of £38m and a pre-tax profit of £49,280.
As well as 007: Road to a Million, 72 Films is known for 9/11: One Day in America, Jimmy Savile: A British Horror Story and The Rise and Fall of Boris Johnson.
First full year for 007: Road to a Million maker under new ownership
A statement signed off by the board said: “The group will continue to incur costs on projects in early development stages and will continue with its goal of securing contracts from a varied customer base and exploiting finished programme sales overseas where possible.”
72 Films was founded by David Glover and Mark Raphael and has won commissions with the BBC, National Geographic, Channel 4, Sky, Paramount, Netflix, Apple and Amazon.
007: Road to a Million is a reality competition show spin-off from the James Bond franchise.
72 Films made the series alongside MGM Television and in association with Eon Productions. It was released on Amazon prime Video in November 2023.
Fremantle acquired a majority stake in 72 Films towards the end of 2022 for an undisclosed sum.
At the time, in a joint statement, 72 Films’ founders David Glover and Mark Raphael said: “At this stage of 72’s development, there are great advantages and opportunities of joining forces with Fremantle.
“Their extensive international infrastructure and expertise will provide 72 Films with the platform to have our work seen across the world.
“We know and like their excellent team. And they offer us not only fantastic support but complete creative freedom so we can continue to work in the same way.”