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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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Pinewood Debates Management Buyout

By TIM ADLER in London | Monday August 23, 2010 @ 8:05am PDTTags: Crystal Amber, Michael Grade, Michael Grade Pinewood Shepperton, Pinewood Finance, Pinewood Shepperton Finance, Pinewood Studios, UK Film Producers

The publicly-quoted studio facility faces a renewed attack by shareholder Crystal Amber on Wednesday, when it announces its half-year results. Pinewood is expected to announce operating profits have fallen from last year’s £3.3 million ($5 million). Crystal Amber thinks that … Read More »

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