Pinewood Shepperton studios get 007 boost

The latest James Bond movie, Skyfall, and Disney’s forthcoming Maleficent, starring Angelina Jolie, are among the blockbusters that have boosted revenues at Pinewood Shepperton’s studios.

Turnover jumped almost 15% to £18.8 million in the six months to September.

Chief executive Ivan Dunleavy 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, property firm Peel Group, which has plans for an ambitious expansion programme, partly on green belt 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 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 £3 million, against a £5.4 million loss a year ago after a write-off.