IMC Cinema in Carroll Village is set for a significant investment with a new Galactic auditorium on the way in the next few weeks.
The new Galactic auditoriums have earned rave reviews at other cinemas around the country for their comfortable reclining chairs, big screens and state of the art sound.
The new screen will be 60ft x 25ft and features Dolby Atmos sound technology with 40 speakers in the theatre, including some in the ceiling.
The new screen also employs new technology which improves light distribution and uniformity, providing more light to more seats. The 3D films will also have a deeper field of view, making pictures more realistic.
The new feature will have a cost, however, as shows on the Galactic screens carry a €1 premium on the ticket price.
The Ward-owned Irish Multiplex Cinemas Ltd doubled its profits last year to €850,379.
New figures lodged with the Companies Office show the firm recorded the sharp jump in operating profits after the company’s gross profits rose from €2.54m to €2.6m.
According to the directors’ report, the profitability of the company increased during the year as a result of management implementing cost savings.
The directors stated: “It is expected that trading in 2015 will not be significantly different to 2014.”
The directors also disclose that they have paid a dividend of €207,000 in April 2015 in relation to the year ended October 2013 and that they have deferred the decision on the payment of a dividend in relation to the year ended October 2014 until a later date.
The profit takes account of non-cash depreciation costs of €410,804. The firm is one of a number of Irish cinema firms operated by the Ward family who own Dublin’s Savoy and Screen cinemas, with the Savoy playing host to many movie premieres.
Ward also has cinemas in Dún Laoghaire, Tallaght, Athlone, Killarney and Ballymena.
Numbers employed by the firm last year reduced from 57 to 44 with staff costs reducing by 24.5% from €1.19m to €903,573.
The firm reduced its administrative costs from €853,723 to €705,117.
The new state-of-the art auditorium could be vital for the cinema in fending off competition from the new Dundalk Omniplex, which is due to open in the coming months at the former Harvey Norman store at Dundalk Retail Park.
Work is understood to have started on the facility in recent weeks.