3 Nov 2010 07:00
07:00 3 NOVEMBER 2010
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 July 2010 to 2 November 2010.
Revenue Performance
In line with the statement made on 25 August 2010 at the announcement of the Company's Interim Results for the six months to 30 June 2010, overall revenues for the period 1 July 2010 to 2 November 2010 have continued to perform well.
Film
Film revenues were up compared to the same period in 2009 as a result of the Company's 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 Pirates of the Caribbean: On Stranger Tides (Disney); Hugo Cabret (GK Films/Sony Pictures) and Harry Potter and the Deathly Hallows (Warner Bros).
Television
In a challenging market the flexibility of the Company's film stages and television studios demonstrate the value and versatility of its offering. Currently all the TV facilities at Pinewood Studios site are being utilised for film production. As a result, television revenues, as announced previously, are below the same period last year. This has been compensated by increased film revenues during the period.
Media Park
Media Park revenues have remained resilient in a difficult property market generally.
Outlook
Overall revenues for 2010 are in line with the market expectations which were improved following the announcement of the Company's Interim Results on 25 August 2010.
Film stage and Television revenues for the remainder of 2010 are now largely contracted, with improving visibility extending into the first half of 2011.
Enquiries
Pinewood Shepperton plc
Ivan Dunleavy - Chief Executive +44 (0) 1753 656 732
Brunswick Group LLP
James Olley/Oliver Hughes +44 (0) 207 404 5959