Good and bad times unfold for Pinewood Shepperton

MUMBAI: In what seems to be a mixed bag of news for Pinewood Shepperton, the group which has posted fair financials for the fiscal year 2012-13 currently faces a potential production crisis.

The studio provider which has played home to a number of blockbuster Hollywood features including the James Bond franchise has posted revenues at ?63million ($96.3M) for the financial year 2012-2013 with healthy operating profits of $8.25 million versus $4.13 million in the previous period. The only blight on the balance sheet was the performance of the TV division, which made revenues of ?5.2m ($ 7.94). Net debt was ?44.7m ($ 68.28m) at 31 March, down from ?50.4m ($76.98) a year ago. The company paid a final dividend of 1.5p per share; whereas in 2011 it did not pay one.

However Pinewood is still facing a hindrance from the stubborn South Buckinghamshire district council that rejected Pinewood‘s second planning application to secure a ?200m Hollywood-style expansion plan, last month. A public inquiry into the decision scheduled to start on 19 November.

The studio‘s filt attempt in 2011, called Project Pinewood, also failed to gain clearance and ultimately cost ?7.1m - pushing the company into pre-tax loss in 2011.

The studio business revealed that it has already spent almost ?2m on its latest attempt to convince authorities to affirm the ambitious project to double the size of its presence in Buckinghamshire.

CEO Ivan Dunleavy said that he did not expect the second planning application to cost as much, but that Pinewood was fully committed to winning clearance for the plan.

"We are reusing a lot of the work we invested in the first time around, like environmental analysis. The proposal for adding more capacity is clearly a simpler one than Project Pinewood and we don‘t anticipate anything the costs rising like it previously. However, our shareholders are supportive of those sorts of sums for something as critically important to the future as this."

Among the recent films to be shot at Pinewood are The Muppets… Again! And Maleficient. Lining up are Kenneth Branagh‘s Cinderella, Marvel‘s Guardians Of The Galaxy and J.J Abrams‘ Star Wars: Episode VII.

Latest Reads
Zee Studios International's Secret Superstar hits it big in Taiwan

Zee Studios International has collected $700,681 from its release of Aamir Khan-starrer Secret Superstar in Taiwan, making the movie the widest Bollywood film in the country. The film, which also features Zaira Wasim, lit up the box office in India. The distribution company began the next phase of...

Movies Hindi
Zee Studio to premiere the post-apocalyptic horror drama - MAGGIE!

Zee Studio, the hollywood movie destination, brings the Indian television premiere of Maggie. Starring multi-award winner Arnold Schwarzenegger and Academy Award-nominee, Abigail Breslin, this post-apocalyptic drama premieres on 10 December 2017, Sunday at 12 noon and 9 pm.

Movies Hollywood
Demonetisation, decline in govt ads impact UFO Q2 numbers

BENGALURU: Indian digital cinema distribution network and in-cinema advertising platform UFO Moviez Ltd (UFO) reported a 12.8 percent year-on-year (y-o-y) decline in consolidated operating revenue for the quarter ended 30 September 2017 (Q2 FY 2017-18) as compared with the corresponding year ago...

Movies Movies On Mutiple Platforms
The modern day economics of film financing

Only 2 per cent of the total movies released in 2016 in the US were computer graphic (CG) animation, yet they grossed more than 21 per cent of the US box office collection. Strong animation brands have longer shelf-life and generate revenue for years.

Movies International
Bengali film Posto to premiere on Hoichoi before satellite TV

NEW DELHI: Digital Bengali entertainment content platform Hoichoi has acquired exclusive digital rights of this year’s most successful Bengali feature film Posto, ensuring it a world digital premiere today before a satellite TV premiere. This will provide Bengali moviemakers a robust additional...

Movies Regional
PVR acquires minority stake in US luxury theatre chain

PVR Ltd (PVR) will acquire a minority stake in US-based luxury restaurant and theatre iPic-Gold Class Entertainment (iPic).

Movies Hindi
Eros reports higher profit margin despite fewer releases

BENGALURU: Sunil Lulla-led Eros International Media Limited (Eros) reported 21 per cent margin (on operating income) for consolidated profit after tax (PAT) for the quarter ended 30 September 2017 (Q2 FY 2017-18) as compared with 12.8 per cent margin for the corresponding quarter a last ago. The...

Movies Hindi
Inox reports increase in revenue, profits for second quarter

BENGALURU: Indian cinema chain Inox Leisure Limited (Inox) has reported improved revenue and net profit after tax (PAT) for the quarter ended 30 September 2017 (Q2-18, current quarter) as compared to the corresponding quarter of the previous year (Q2-17, year ago quarter). Inox revenue from...

Movies Hindi
1700 films received on ending violence against women film contest

NEW DELHI: Around 1700 entries from over 600 colleges have come in response to a campaign launchged earlier this year for two-minute films on generating debate and promote positive change in cultural and social norms around the value of women in India. The campaign ‘#BasAbBahutHogaya – Enough is...

Movies Hindi

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories