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Pinewood sees 10% rise in revenue

Operating profit rises 62% to $9.7 million

LONDON

Pinewood Shepperton has reported a 10% rise in revenue to £27.1 million ($43.5 million) for the six months ended Sept. 30. Operating profit was up 62% to $9.7 million.

Film revenues were up 14.6% to $30.1 million. Television revenues were down 30.6% at $40 million as high demand meant film production took over television studio space.

Figures were compared with the six months ended Dec. 31, 2011, due to a change in the company’s reporting practices.

“Current trading is positive, with a high level of contracted revenues for the remainder of the current financial year,” said chief exec Ivan Dunleavy. “The number of film productions contracted so far for next year is encouraging, and the board looks forward to the future with confidence.”

The biggest film production based at Pinewood Studios during the period was Disney’s “Maleficent,” starring Angelina Jolie, while Shepperton hosted Marvel Studios’ “Thor: The Dark World,” starring Chris Hemsworth and Natalie Portman. Other productions using the company’s facilities included Universal’s “Les Miserables” and “The Fast and the Furious 6,” Paramount’s Jack Ryan title “Maryland,” Marv Films’ “Kick Ass 2” and James Bond film “Skyfall,” from Eon Prods., MGM and Sony.

The company also generated $800,000 in international film revenues, on par with the comparison period, from its sales and marketing agreement with Pinewood Toronto Studios. The facility hosted productions including MGM’s new versions of “RoboCop” and “Carrie.”

Construction of Pinewood Iskandar Malaysia Studios is under way, and film stages are expected to be completed by May, with television stages following by October. In addition, the 60,500-square-foot water tank at Pinewood Indomina Studios in the Dominican Republic reached practical completion in October, with stages due to be completed by March.

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