PWS.L Regulatory News (PWS)

6 Nov 2008 07:00

Pinewood Shepperton plc

06 November 2008

Interim Management Statement

Pinewood Shepperton plc ("the Company"), the leading European provider of studio and related services to the worldwide film and television industry, today issues its interim management statement, for the period 01 July to 05 November 2008, made in accordance with the UK Listing Authority's Disclosure and Transparency Rules.

Overall Summary

Revenue Performance

As anticipated, trading for the period was ahead of the comparable period last year and in line with statements made on 28 August 2008 at the time of the Company's interim results (for the six months to 30 June 2008).

Film

Film revenues reflected stronger demand than the same period last year. The negotiations between the US studios and the Screen Actors Guild remain unresolved but there is cautious optimism about the outcome.

Television

Pinewood Shepperton plc continues to experience strong demand for its studio based television services from major broadcasting customers, to the benefit of television revenues.

Media Park

Media Park revenues have remained consistent, with progress being maintained on the Company's development strategy for its freehold studio sites. The planning application for Project Pinewood is progressing satisfactorily toward formal submission.

Outlook

The Company believes its diversification and growth strategy is well founded and is pleased to have concluded new financing arrangements during August that will support its growth strategy for the next five years. The board remains confident in the outlook for the year as a whole, notwithstanding the current economic climate.

Financial Calendar

In line with the revised reporting requirements the next event in the Company's financial calendar is:

Preliminary Results for 2008, 25 March 2009

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About Pinewood Shepperton Plc

Pinewood Shepperton plc, comprising Pinewood, Shepperton and Teddington Studios is at the heart of British film and television infrastructure and is one of Europe's leading studio infrastructure groups.

The Company provides facilities for major national and international film production, filmed television, studio (electronic) television recording, the filming of commercials and post production services, and a growing community of over 280 media businesses. www.pinewoodgroup.com