LONDON — Pinewood Group, which runs production facilities in several countries, reported record annual revenue on Tuesday. The company received a boost from hosting “Star Wars: Episode VII — The Force Awakens,” “Avengers: Age of Ultron” and the 24th Bond film “Spectre.”
Revenue for the financial year ending March 31 was £75 million ($118 million), compared with £64.1 million ($101 million) the previous year. Operating profit stood at £5.8 million ($9.11 million), compared with £4.9 million ($7.7 million) the year before.
The company can expect to see a further jump in revenue at its flagship U.K. site, Pinewood Studios, once its expansion program, known as the Pinewood Studios Development Framework, sees the completion of its first phase, which is now underway. The Pinewood Studios Development Framework will add 1 million sq ft of new facilities, including 10 large stages with supporting workshops, production offices and infrastructure.
Ivan Dunleavy, chief executive, said: “Although we have hosted the three largest film productions of the year, being ‘Star Wars: Episode VII — The Force Awakens,’ ‘Avengers: Age of Ultron’ and the 24th Bond film ‘Spectre,’ we continue to be unable to meet all the demand from large films. This will be partly addressed by the first phase of the Pinewood expansion.”
The company also hosted Disney’s “Alice Through the Looking Glass,” which shot at the group’s Shepperton Studios.
The Pinewood Group’s international network of studios includes Toronto, Canada, Iskandar, Malaysia, the Dominican Republic, and Atlanta, Georgia, U.S., as well as production activities in China and Ireland. Phase one of the development of Pinewood Atlanta Studios, the company’s partnership with Rivers Rock, was completed in June 2014. Marvel’s “Antman” was the first production to shoot at the Georgia studios.