‘Star Wars: The Force Awakens’ And ‘Spectre’ Boost Pinewood Profits
Pinewood Studios announced today its interim six-month results through September 2015, with profits boosted by Star Wars: The Force Awakens and the latest James Bond installment Spectre shooting at the studio. Pre-tax profits were up 13.2% to $6.5 million, while operating profits were up 186.9% to $10.5 million from $3.7 million in the same period in the previous year. Group revenue was down slightly, however, to $57.5 million from $58 million the previous year. Film revenues for the period were $40.5 million, a 19% increase due to a high stage occupancy for the period of 87%.
The company, which is the largest European film studio and production services group, is expanding ambitiously with construction of phase one of the Pinewood expansion on schedule for completion in June 2016, and within budget.
Production arm Pinewood Pictures continues to advise on funds totalling $83 million across film and TV production. The area of IP ownership and exploitation is believed to be a priority for the group alongside the physical bricks and mortar offering at its facilities around the world. In addition to Pinewood Studios, Shepperton Studios and Pinewood Studio Wales in the UK, the group also has operations in Toronto, Malaysia, the Dominican Republic and Atlanta in the U.S.
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