Studios' profits fall despite classic year

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The Independent Online

The Clash of the Titans due for release this weekend, was one of a number of movies filmed at Pinewood and Shepperton studios during a resurgent 2009 for British cinema, their owner said.

Pinewood Shepperton said the "appeal of film in uncertain economic times has not diminished" after cinema admissions hit their highest level since 2002 last year. The studios were also used to film Harry Potter and the Deathly Hallows and Ridley Scott's new Robin Hood adventure. But Pinewood Shepperton's film revenues fell 6 per cent to £22.7m, reflecting the impact of a damaging battle between US studios and the Screen Actors Guild. The television advertising slump also hit the company's TV revenues, which were 11 per cent lower at £11.3m, The group's underlying pre-tax profits slipped by 6 per cent to £11.3m in 2009.