Pinewood Shepperton’s profits down 24%


April 1, 2010

Website: Rapid TV News

Pinewood Shepperton Teddington is the UK’s largest film and television studio operator, and provided the sound stages for the James Bond series and recent hits like Nanny McPhee, saw its profits fall last year.

Pinewood Shepperton posted a 24% fall in full-year (pre-tax) profits, but said its contracted revenues for 2010 to date was ahead of the same period in 2009.

Pinewood Shepperton has a total of 34 stages, and is home to some 280 independent companies, mostly providing craft and technical services for film-makers.

The British firm, which provided the studios for British classics such as the Bond films and the Carry On series, said its film revenues were hit by the industrial dispute last year with the Screen Actors Guild, which reached a settlement in June.

Revenue from the television business, which accounts for almost 28% of the total revenue, were down on last year as firms pulled back their advertising expenses.

Pretax profit for the year ended Dec. 31 was £4.5m ($6.78 million), compared with £5.9m last year.

Revenue fell 6% to £40.3m






 

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