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Pinewood Profits Fall 12% To $4.5M

By TIM ADLER in London | Wednesday August 25, 2010 @ 1:17am PDTTags: Crystal Amber Pinewood Shepperton Film Studios, Hugo Cabret, John Carter of Mars, Martin Scorsese Hugo Cabret, Michael Grade, Pinewood Finance, Pinewood Shepperton Film Studios, Pinewood Studios

First half operating profits after exceptional items have also fallen 3% to £3.2 million. Total revenue fell 6.4% in the first 6 months to £19 million. Film production revenue fell by 8.5% to £10.8 million, while TV shooting income fell 7.3% to £5.1 million. Martin Scorsese’s Hugo Cabret was the biggest production to use Pinewood Shepperton between January and June. Other productions using the studios included Disney’s John Carter of Mars and Ruby Films’ Jane Eyre. Pinewood Shepperton has been hit by several Hollywood productions being delayed.

Crystal Amber, which yesterday became Pinewood Shepperton’s biggest shareholder, characterises chairman Michael Grade as “clueless” and called on him to stand down. The investor complains that Pinewood’s revenues have fallen, costs have risen and profits broadly halved since the group raised £50 million at flotation in 2004.

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Michael Grade Shrugs Off Call For Him To Quit As Pinewood Shepperton Boss

By TIM ADLER in London | Tuesday June 29, 2010 @ 7:19am PDTTags: Crystal Amber Pinewood Shepperton Film Studios, Finance, Foreign, Michael Grade, Michael Grade Pinewood Shepperton, Pinewood Shepperton Film Studios, Pinewood Shepperton Finance

Michael_GradeThe former ITV chairman has survived a shareholder rebellion at this morning’s annual general meeting of the company that owns Pinewood and Shepperton film studios.

Crystal Amber, an activist investment fund with 18% of the shares in Pinewood Shepperton has attacked Grade’s … Read More »

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