Hamilton theatre refurb hits Sir Cameron Mackintosh’s profits

West End smash Hamilton helped lift sales at Sir Cameron Mackintosh’s theatre company last year but the cost of a refurb of the hit musical’s home at the Victoria Palace Theatre cut profits.

Theatre turnover, which includes box-office receipts and sales of wine and beer, rose by £6.1 million to £50 million at Delfont Mackintosh Theatres due to the addition of the Victoria.

The Grade II-listed theatre was re-opened in December 2017 to stage the London run of the Broadway hit, above, which Mackintosh is co-producing.

The company said the cost of the Victoria refurb to the end of March 2018 was more than £61 million, more than double the original £30 million cost.

The “extensive” work dented pre-tax profits across the overall group, Cameron Mackintosh Limited, by 18% to £18.1 million due £6.8m of repairs that were written off to the profit and loss account.

Group profits were up by £1.4m at £24.6m after adjusting for the charge.

Tours of Les Miserables and Miss Saigon helped lift the group’s turnover up 27% to £168.4 million.