Blockbusters keep Pinewood buoyant
The Pinewood Group has released a report detailing very healthy figures for its latest fiscal year with blockbusters such as Star Wars: The Force Awakens contributing to a profit of £13.6m.
The operating profit figure covers the 12 months ending 31 March 2016, marking a significant rise on the previous year which stood at £5.8m. The report shows a 10.9% increase in group revenue and a 31.1% increase in normalised earnings per share.
The healthy state of affairs is seen as a positive outcome for the industry since the UK’s decision to exit the EU, as the fall of the pound proves a benefit for inward investors seeking to use UK facilities.
Chief executive Ivan Dunleavy said: “The result of the UK's referendum on membership of the EU is now known. In the context of our business, the decline in the sterling exchange rate is undoubtedly positive for our international customers. We will continue to monitor sentiment around the issue going forward.”
Pinewood is arguably the most high-profile UK studio, with an iconic film history as the home of the Bond franchise and now the juggernaut that is Star Wars and its anthology spin-offs.
The studio’s expansion is also a marker of its ongoing success, with Film Stars Don’t Die in Liverpool starring Annette Bening and Jamie Bell becoming the first feature film to use the extra space, known as Pinewood East, at Pinewood’s Borehamwood HQ.
Also on The Knowledge
Full planning permission has been granted to Shinfield Studios to continue construction of its studio facility, located in Shinfield, Berkshire, in Thames Valley Science Park, with Disney named as the first client.
Wardpark Film and Television Studios in Cumbernauld, Scotland, has been acquired by Hackman Capital Partners and partner Square Mile Capital Management.
Filming has just begun in the UK on spy thriller Argylle, an Apple film starring Henry Cavill, from director Matthew Vaughn and his banner Marv Films.
US firms Blackstone and Hudson Pacific Properties are to build a £700m expansion of Sunset Studios in north London.
Pre-production is underway in the UK on The Marvels, the sequel to the 2019 feature Captain Marvel and a continuation of the Disney+ series, Ms. Marvel.
UKTV entertainment and comedy channel Dave is to revive Alan Davies: As Yet Untitled in a new order of 10 x 60 episodes.