Li­censed to in­crease prof­its

Buckinghamshire Advertiser - - SCHOOL REPORT -

STAR Wars, the Avengers and the new James Bond film all helped a film stu­dios to record break­ing prof­its.

The Pinewood Group, which in­cludes Pinewood Stu­dios in Iver Heath, said that its in­come for the 2014/15 fi­nan­cial year was £75m, an in­crease of £10m since the pre­vi­ous year.

It has at­tracted a host of high pro­file pro­duc­tions re­cently with Star Wars Episode VII, Spec­tre, the new Bond film, as well as comic book block­buster Avengers: Age of Ultron all shoot­ing there.

Pinewood says that de­spite its suc­cess, it has still been un­able to ac­com­mo­date de­mand from large scale pro­duc­tions, and says that its con­tin­ued ex­pan­sion is crit­i­cal to its fu­ture.

Work be­gan ear­lier this year on the first phase of the Pinewood Stu­dios De­vel­op­ment Frame­work, which in­volves the stu­dios ex­pand­ing onto an area of pre­vi­ously green belt land.

Pinewood’s chief ex­ec­u­tive Ivan Dun­leavy said: “Pinewood is a uniquely po­si­tioned

Films such as James Bond and The Avengers, be­low, have helped Pinewood’s profit soar in­de­pen­dent op­er­a­tor and has once again de­liv­ered strong growth.

“As our core busi­ness has grown we have ex­panded the range of ser­vices for the screen based in­dus­tries. We are see­ing en­cour­ag­ing re­sults from this strat­egy.”

He added: “Although we have hosted the three largest film pro­duc­tions of the year, be­ing Star Wars Episode VII: The Force Awak­ens, Avengers: Age of Ultron and the 24th Bond film Spec­tre, we con­tinue to be un­able to meet all the de­mand from large films.

“This will partly be ad­dressed by the first phase of the Pinewood ex­pan­sion.

“We are en­cour­aged that the cur­rent fi­nan­cial year has got off to a strong start with good vis­i­bil­ity into the com­ing year.”

As well as Pinewood Stu­dios, the Pinewood Group also has Shep­per­ton Film Stu­dios as well as sites in Toronto and At­lanta un­der its wing, which also con­trib­uted to this year’s fi­nan­cial suc­cess.

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