Pinewood gets boost from film contract wins

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The Independent Online

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.