Magazine article Screen International

Pinewood Posts Increase in Profit and Revenue, Ruth Prior Joins Board

Magazine article Screen International

Pinewood Posts Increase in Profit and Revenue, Ruth Prior Joins Board

Article excerpt

Former EMI executive Prior will chair Pinewood's audit committee.

Pinewood Studios' interim results for the six months ended 30 September 2012 (the company recently changed its accounting reference date from 31 December to 31 March) indicate a revenue of £27.1m, up from £24.6m for the six months ended 31 December 2011, and an operating profit before exceptional items of £6.1m, up from £3.7m for the six months ended 31 December 2011.

Basic earnings per share were 4.2p (six months ended 31 December 2011: 11.4p loss) with an interim dividend of 0.5p per share (six months ended 31 December 2011: nil). The company's television revenues in the period were £2.5m (six months ended 31 December 2011: £3.6m).

The studios also announced that Ruth Prior has joined the board as an independent non-executive director and will chair the audit committee.

Prior was formerly group chief operating officer and group chief financial officer of the EMI group of companies and finance director of portfolio business at Terra Firma Capital Partners Limited. …

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