Magazine article Screen International

Star Wars, Bond Boost Pinewood Profits

Magazine article Screen International

Star Wars, Bond Boost Pinewood Profits

Article excerpt

Year-on-year profit after tax was up 13.2% from £3.8m to £4.3m and group operating profit was up 186% from £2.5m to £7m.

However, group revenue was down 0.7% to £38.5m.

During the period, Pinewood raised £30m through the sale of 8,000,000 ordinary shares and raised new banking facilities of more than £100m.

Phase one of the Pinewood Studios Development Framework is to be completed by June 2016 within budget, while Pinewood Atlanta Studios Phase 2 development has been completed.

The company also launched development of a full service production company in the Republic of Ireland.

Commenting on today's results, Pinewood CEO Ivan Dunleavy said: "The first six months of the year have maintained the positive momentum reported in our full year results in June 2015.

"Productions based at the studios during the period include the year's biggest films Spectre and Star Wars: Episode VII - The Force Awakens. …

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