James Bond studios makes £3.9m loss
Pinewood Shepperton studios slumped to a £3.9m loss in 2011 after it failed in an attempt to build replicas of Paris, New York and Amsterdam on green belt land.
The studios enjoyed record revenues of £50.7m in 2011, up by 17 per cent after it filmed scenes for movies such as The Hobbit and the next James Bond film, Skyfall. But it took an exceptional charge of £7.1m reflecting five years of costs for its "Project Pinewood" application, which officials turned down in January. This pushed the company, which is majority owned by the property group Peel Holdings, £3.9m into the red, after profits of £5.8m the previous year.
Project Pinewood would have seen the creation of a "purpose-built" film set with 1,400 permanent homes inside the streetscape buildings at Iver Heath, Buckinghamshire. The project would have cost £200m and created almost 1,000 jobs in the next 10 years, with 420 affordable homes offered inside the film sets. But it was fiercely resisted by campaigners.
The Pinewood and Shepperton studios have been home to more than 1,500 films in the last 75 years, while the two studios and the company's Teddington site have hosted more than 600 television shows.
- 1 Keira Knightley topless: Usually conservative actress does own take on #Freethenipple campaign for Interview Magazine
- 2 Oil tanker with $100 million cargo goes missing off Texas coast
- 3 George Galloway left with severe bruising after attack in Notting Hill by man 'shouting about the Holocaust'
- 4 Lady al-Qa’ida: On the trail of Dr Aafia Siddiqui, the world’s most wanted prisoner
- 5 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
YouTube video posted by Isis militants shows 'execution of 250 Syrian soldiers'
Keira Knightley topless: Usually conservative actress does own take on #Freethenipple campaign for Interview Magazine
Oil tanker with $100 million cargo goes missing off Texas coast
George Galloway left with severe bruising after attack in Notting Hill by man 'shouting about the Holocaust'
A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
What do immigrants really think of Britain? Polish immigrant's Reddit post goes viral
Scottish independence TV debate: Pumped-up Alex Salmond bounces back in bruising second round against Alistair Darling
Do you realise just how foolish the UK looks?
With Douglas Carswell joining Ukip, my party has taken another giant step forward
- < Previous
- Next >
iJobs Money & Business
Highly Attractive Salary: Austen Lloyd: BRISTOL - This is a very unusual law c...
£35000 per annum: Harrington Starr: Network Engineer (CCNP, CCNA, Linux, OSPF,...
£50000 per annum: Harrington Starr: DevOps Engineer (Systems Administration, L...
£60000 - £70000 per annum: Harrington Starr: A prestigious leading professiona...