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
Movies NOW announces the 6th season of its blockbuster property ‘100 Mania’

Movies NOW, India’s favorite English movie channel, rings in the festive season with its iconic mega property ‘100 Mania’.

Movies Hollywood
Usha International associates with YRF’s Sui Dhaaga – Made in India

Usha International, one of India’s leading household consumer durables company, proudly announces its association with Sui Dhaaga - Made In India produced by Yash Raj Films and starring Bollywood heartthrobs Varun Dhawan and Anushka Sharma.

Movies Hindi
Kamal Haasan talks about the pathbreaking films that inspired his career

MN+, the gold class of Hollywood movies associated with Kamal Haasan’s Vishwaroop 2 for Season 3 of Pathbreakers.

Movies Hollywood
No. 1 Bhojpuri Channel, ZEEL’s Big Ganga collaborates with foremost Bhojpuri superstar Ravi Kishan for a 7-movie deal

Over the last two decades, Bhojpuri movies industry has seen a revolution in the form of content, talent, and production.

Movies Regional
Zee Cinemalu Announces World Television Premiere of Superhit Romance-Idi Maa Prema Katha

Continuing to respect and support new-time actors, Zee Cinemalu’s World Television Premiere of Idi Maa Prema Katha stars the well-known faces from the small screen – Zee Telugu’s very own Anchor Ravi and Kalyana Vaibhogam-famed Meghana Lokesh.

Movies Regional
&pictures to air Sonakshi Sinha and Sidharth Malhotra?s spine-chilling thriller Ittefaq on Saturday, 21st July 2018 at 8pm

A CBI officer is assigned a double murder case which involves two witnesses who are also the prime suspects of the case.

Movies Hindi
Zee Action to air The Monkey King 2 on Saturday, 21st July at 8pm

Five hundred years after the Havoc in Heaven, the Tang Priest is appointed by Buddha to go to the West to fetch the sacred scriptures

Movies Hindi
Zee to launch Zee Classic HD channel

The Punit Goenka-led Zee Entertainment Enterprises Ltd (ZEEL), is all set to launch Zee Classic's HD version.

Movies Hindi
Shemaroo Entertainment Releases Padmaavat On Blu-ray and DVD for Cinema Lovers

Shemaroo Entertainment Limited, one of India?s leading global content power house, released the Blu-rays and DVDs of Sanjay Leela Bhansali?s magnum opus, Padmaavat- one of the most expensive Indian films ever made.

Movies Hindi

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories