BEACON bosses say the Greenock theatre is on the right track - despite a loss of more than £200,000 in the last year.

The venue continues to lose money according to the latest set of accounts published by parent company Greenock Arts Guild Limited (GAGL).

In the 12 months to 31 March 2019, the Beacon posted a loss of £230k - but that is £125k less than the £357k deficit the previous year.

The improved financials were helped by an increase in income - up almost £100k to £1.6m - and a reduction in outgoings - down nearly £30k to just under £1.9m.

The accounts were signed off by new chairman Alex Reedijk, who was appointed last March to turn around the ailing arts centre after a cash crisis.

One of his first acts was closing the Bistro restaurant, which was said to be making a 'loss' and deemed unsustainable by the board.

The theatre boss says things are now moving in the right direction and the focus is on ensuring the venue is 'resilient and profitable'.

Mr Reedijk said: "This year has been a period of change and I want to thank the former and current trustees and the team at the Beacon Arts Centre for their commitment and hard work. "Secondly, I wish to thank key stakeholders especially Inverclyde Council and Creative Scotland for their sustained investment and, most importantly, the people of Inverclyde for their loyalty and strength of support.

"Like many arts organisations, GAGL has face financial challenges, particularly during the last financial year. "Contributing factors included long-standing contractual and legal issues resulting from the new building, financial losses on the catering side of the business and some leadership challenges.

"The trustees rake our responsibility to GAGL very seriously. "I am pleased to report that the organisation has a strong board and team, with funding and support in place to be able to develop as a more diverse and ambitious creative hub for Inverclyde."

According to the accounts, the volume of live performances increased by 16 to a total of 270. Despite that, the number of patrons fell slightly by 879 to just under 58,000 attendees.

The report says there were 104,000 visitors during the period, although a breakdown of attendances at various events tallies up to just under 103k - down by over 7,000 year-on-year.

The Beacon has a four-year £600k funding package with Creative Scotland which runs out in 2021, while the council provided £750k from 2015-18 and the 'core grant' from 2018/19 is £200k.

Mr Reedijk said: "The Beacon is supported by Inverclyde Council and Creative Scotland and has attracted a significant amount of funding into the area over the last decade from trusts, foundations, corporate supporters and private donors.

"This has, in turn, increased visitors to the area, created jobs, attracted inward investment and stimulated the local economy."

According to the accounts, the Beacon employed on average 51 members of staff each month - down by eight.