Pinewood Shepperton first half growth flies on media investments

26th Nov 2013 13:42

Film studio Pinewood Shepperton enjoyed strong first-half growth as demand from film and television remained high and its media investments made stronger returns. Media Investment revenues for the period jumped more than fourfold to £11.2m due to extra film production company activity, with new investments made in four films, including Our Robot Overlords and Power Room. Film revenues climbed 3.7% £19.6m in the six months to September 30th, while television revenues rose 28% to £3.2m and sales from its Media Hub were flat at £3.1m.Due to the constraints on the physical size of its UK site, the company is appealing a planning application for its proposed £200m phased expansion development and expects a firm decision expected from the public enquiry by the time of its April final results. House broker N+1 Singer said "A favourable outcome would be a game-changer for the group" and is "broadly sanguine of a positive result", but in the event the outcome of the planning appeal is negative then "we feel it would be difficult for management to try again for the third time". Looking forward, the company said utilisation rates remain high and with its Atlanta, USA studio opening in March.OH