Triumph and tragedy at Old Vic Productions as profits brought in by successful shows were wiped out by less popular ones

By SARAH BRIDGE, FINANCIAL MAIL ON SUNDAY

Updated: 10:56 EST, 6 July 2014

It was triumph and tragedy at Old Vic Productions last year as profits brought in by its most successful shows were wiped out by its less popular performances.

Former Barclays boss Bob Diamond, who is chairman of the London-based theatre company, described the results for 2013, in which turnover of £2.6 million resulted in a pre-tax loss of £174,000 as ‘disappointing’.

Its most successful staging was Noel Coward’s Private Lives with Anna Chancellor and Toby Stephens.

Old Vic production: Hannah Waddingham as Lilli in Kiss Me Kate

This was profitable for the company as it was co-producer and general manager of the show, as well as an investor.

‘This is the model we seek to adopt on as many shows as possible,’ said Diamond. 

Billy Elliot continued to make money but the Noises Off tour made a loss, as did Passion Play starring Zoe Wanamaker.

Other co-productions including Kiss Me Kate and The Winslow Boy broke even. Now the company is set to produce a play based on Enid Blyton’s Famous Five.