Pinewood gets boost from film contract wins

Pinewood Shepperton gave its chairman, Michael Grade, breathing space yesterday after recent film contract wins allowed the film and TV studio to raise its forecasts for full-year revenues.

The group, whose chairman has faced calls to resign from the activist investor Crystal Amber, said profits fell 7 per cent to £1.5m in the first half after revenues declined 6 per cent. Nonetheless, its shares rose 4 per cent to 180p as investors cheered the forecast.