27 Apr 2011 07:00
27 APRIL 2011
INTERIM MANAGEMENT STATEMENT
Pinewood Shepperton plc
Pinewood Shepperton plc (the "Company"), a leading provider of services to the global film and television industry, today issues its Interim Management Statement for the period 1 January 2011 to 26 April 2011.
Revenue Performance
In line with the statement made on 8 March 2011 at the announcement of the Company's Results for the year to 31 December 2010, overall revenues for the period 1 January 2011 to 26 April 2011 have continued to perform well.
Film
Film revenues were up, compared to the same period in 2010, as a result of the Company's ongoing success in winning business in a buoyant but highly competitive international market. Productions which used the Company's facilities and services during the period included Clash of the Titans 2 (Warner Bros.), 47 Ronin (Universal) and Iron Lady (Pathé).
Television
In a soft market the flexibility of the Company's film stages and television studios demonstrate the value and versatility of its offering. During the period, the Company hosted live broadcasts of prime time light entertainment television shows, Dancing on Ice (ITV) from Shepperton Studios and, at the same time, Got To Dance (Princess Productions) from Pinewood Studios in front of combined live studio audiences of 1,600. Television revenues are currently ahead of the same period last year.
Media Park
Media Park revenues have remained consistent.
Outlook
Film stage revenues for the remainder of 2011 are now largely contracted, with some visibility extending into early 2012.
Overall revenues for 2011 are in line with market expectations which rose following the announcement of the Company's Results on 8 March 2011.
The Directors of the Company accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the Directors of the Company (who have taken all reasonable care to ensure that such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.
Enquiries:
Pinewood Shepperton plc
Ivan Dunleavy Tel: +44 (0) 1753 656732
J.P. Morgan Cazenove
Hugo Baring / Bronson Albery Tel: +44 (0) 20 7588 2828
Brunswick Group LLP
Tom Buchanan / James Olley Tel: +44 (0) 20 7404 5959