Pinewood Back To Profitability
PINEWOOD Shepperton studios is reporting a pre-tax profit of $4.8 million (£2.97 million) in the six month period ending September 30. The jump back to profitability from losses last year is despite a reported 30% slump in TV production revenues.
Big budget pics like Skyfall and the sequel to Thor are being credited with the recovery. Pinewood in 2011 posted $8.7 million (£5.4 million) in losses for the last six months of the year. That slump in profits was put down to an ambitious Hollywood style expansion project being blocked.