Pinewood Shepperton has seen a rise in revenue for the first half of the year, with the continuing decline in income from TV offset by the growth of its film services division.

The facilities group recorded revenue of £26.1m for the first six months of the year, compared to £19m for the same period last year. Operating profit stood at £6.6m - up £2.9m year-on-year.

The facilities group’s television revenues dropped from £5.1m for the first six months of 2010 to £4.7m during the same period this year.

In contrast, revenue generated by film productions rose by 68% to £18.2m.

Chief executive Ivan Dunleavy said the first half of the year had delivered “a positive performance across the business with good demand from big budget films and large scale TV productions”.

He added that Pinewood was “unable to meet all the television demand at Pinewood Studios as its facilities were extensively used by film productions”.

Pinewood and Teddington have hosted Lee Mack’s All Star Cast, Would I Lie to You, The Rob Brydon Show and Sky’s live talent show Got to Dance.

Digital content services revenues, which are included in film and television revenues and cover sound and picture post production, foreign language versioning, digitisation and archival services rose by £200,000 to £3.2m. 

The number of firms providing services to the film, television, advertising and computer game industries based at Pinewood’s Media Park decreased year-on-year, from 297 at the end of last year to 287 by June this year.

Dunleavy added: “Despite the current economic uncertainties, the company is performing strongly.

“Trading since the 30 June has been buoyant and is expected to continue to perform well for the year as a whole. Our investment in infrastructure to support growth is ongoing and we look to the future with confidence”.

Project Pinewood

The cost of the proposed development of standing sets and 1,500 homes - including the cost of responding to recent planning appeals by local residents - stands at £7.6m.

The decision as to whether or not the group’s Project Pinewood development can go ahead will be made by the Secretary of State for Communities and Local Government later this year.

 

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