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Pinewood Studios announces profit boom thanks to movie successes

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Pinewood Studios' latest interim six-month results (for the six months to 30 Sept) were boosted by Star Wars: The Force Awakens and James Bond film Spectre. Year-on-year profit after tax was up 13.2% from £3.8m to £4.3m and group operating profit was up 186% from £2.5m to £7m.

During this six month period, Pinewood raised £30m through the sale of 8,000,000 ordinary shares and raised new banking facilities of more than £100m.

This news come as Phase one of the Pinewood Studios Development Framework is to be completed by June 2016 within budget, while Pinewood Atlanta Studios Phase 2 development has been completed.

The company also launched development of a full service production company in the Republic of Ireland.

Commenting on today's results, Pinewood CEO Ivan Dunleavy said: "The first six months of the year have maintained the positive momentum reported in our full year results in June 2015. Productions based at the studios during the period include the year's biggest films Spectre and Star Wars: Episode VII - The Force Awakens. Media Investment deal flow on behalf of third party clients remains weighted to the balance of the year."

Chief Executive Ivan Dunleavy has spent his career in media businesses initially in finance roles. Prior to his current role he was Chief Executive of VCI plc, until it was acquired by Kingfisher plc in November 1998. He is a Director of UK Screen Association and Creative Skillset. He has been Chief Executive of Pinewood Group since February 2000.

Pinewood Studios Group is among the major providers of studio and related services to the worldwide film and television industries. Synonymous with world class British and international productions, its studios have a long heritage and have been home to some of the most successful features films and TV shows ever made.

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