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Pinewood reels in big budget films

Wed, 24th Aug 2011 08:14

Film studio Pinewood Shepperton reported first half profits identical to last year and said it was seeing good demand from big budget film and TV productions despite economic uncertainty.The firm posted pre-tax profits of £1.5m on revenues of £26.1m, up from £19m in 2010.Film revenues for the six months to 30 June 2011 were £18.2m (2010: £10.8m), an increase of 68% at Europe's biggest studios. The largest film production based at Pinewood Studios during the period was Dark Shadows (Warner Bros) and the largest production based at Shepperton Studios was Wrath of the Titans (Warner Bros), it said. However, television revenues fell for the period to £4.7m from £5.1m the previous year, with company unable to keep up with demand.Pinewood's chief executive, Ivan Dunleavy, said trading since the 30 June had been buoyant and was expected to continue to perform well for the year as a whole. "Our investment in infrastructure to support growth is ongoing and we look to the future with confidence," he said.
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