Pinewood Shepperton revenues up 37%

Snow White' among pix now at studios

Revenue at Pinewood Shepperton jumped 37% to £26.1 million ($43.1 million) in the first half of 2011, compared with the same period last year, the studio group announced Wednesday.

Film revenues were up 68% to nearly $30 million, thanks to Warner Bros.’ “Dark Shadows,” “Wrath of the Titans” and “Gravity,” Pathe’s “The Iron Lady,” Hammer Films’ “Woman in Black,” Universal’s “47 Ronin” and Fox’s “Prometheus,” which all lensed at the studios.

Operating profit was up 128% to $10.9 million while profit before tax stayed level at $2.5 million compared with last year.

Additionally, Pinewood Shepperton announced that Universal’s “Snow White and the Huntsman,” toplining Kristen Stewart, Charlize Theron and Chris Helmsworth, has started production at the studios.

The studios have also begun developing an $8.4 million, 30,000-square-foot stage, which is expected to be completed by the second half of 2012.

“The first half of the year has delivered a positive performance across the business with good demand from big-budget films and large-scale TV productions,” said chief exec Ivan Dunleavy. “Despite the current economic uncertainties, the company is performing strongly. Trading since June 30 has been buoyant and is expected to continue to perform well for the year as a whole. Our investment in infrastructure to support growth is ongoing and we look to the future with confidence.”

In July, Brit real estate, transport and infrastructure investment company Peel Holdings completed its takeover of Pinewood Shepperton, upping its ownership to 71.1% of stock.In the run-up to the deal, it had been rumored that Peel, chaired by billionaire property developer John Whittaker, intended to delist the company from the London Stock Exchange and go private. However, that would require 75% ownership of Pinewood.

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