Facilities by ADF PLC on Monday said it swung a loss in the first half of 2024, as market conditions began to normalise following disruptions in the film industry due to strikes in Hollywood from May to November 2023.

The Bridgend, Wales-based provider of serviced production facilities to the UK film and television industry said it swung to a pretax loss of £796,000 from a profit of £2.7 million a year ago.

Revenue in the six months to June 30 fell 30% to £15.2 million from £21.8 million. Cost of sales decreased 26% to £9.8 million from £13.3 million.

Administrative costs increased 7.2% to £5.4 million from £5.0 million.

Facilities by ADF said conditions began to normalise after disruptions due to strikes in Hollywood that lasted from May to November last year.

The company maintained an interim dividend of 0.5 pence per share.

Looking ahead, Facilities by ADF said the outlook in the UK film and TV industry remained robust, expecting about £9.5 billion to be invested in production over the next five years, citing global demand.

Chief Executive Officer Marsden Proctor said: ‘As we continue to invest in our fleet and explore further acquisition opportunities, alongside the increased investment anticipated across the industry in the UK in the coming years, we remain confident in achieving our aim of generating £100 million revenue in the medium-term.’

Facilities shares were 1.1% shares lower at 54.67 pence each on Monday afternoon in London.

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