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Business News

Pinewood is soaring thanks to blockbusters

The latest James Bond movie, Skyfall, and the forthcoming Les Misérables, starring Anne Hathaway, are among the blockbusters that have boosted revenues at Pinewood Shepperton's studios.

Turnover jumped almost 15 per cent to £18.8m in the six months to September.

Ivan Dunleavy, chief executive, said growth at Pinewood Shepperton and Warner Bros' new revamped studio at Leavesden in Hertfordshire showed the demand from Hollywood wanting to shoot in the UK.

He argued that should boost the case of Pinewood's majority shareholder, the property firm Peel Group, which has plans for an ambitious expansion programme, partly on greenbelt land.

"What we're saying in the context of our planning application is we need a lot more capacity to satisfy demand in the UK," said Mr Dunleavy.

Revenues from TV shows fell, partly because of the movie boom but also because of a tough TV advertising market.

Pre-tax profits were £3m, against a £5.4m loss a year ago after a write-off.