BLOCK­BUSTERS GIVE A BOOST TO PINEWOOD

Buckinghamshire Advertiser - - BUSINESS -

THE Star Wars and James Bond block­busters have helped Pinewood Stu­dios record a rise in prof­its and an in­creased de­mand for the use of its site.

The world fa­mous stu­dios, in Iver Heath, re­leased its op­er­at­ing prof­its for the six months up to the end of Septem­ber, and has seen a rise from £2.5m to £7m in that time.

The site has been used for the film­ing of Spec­tre, the lat­est in­stal­ment in the James Bond fran­chise, as well as Star Wars Episode VII: The Force Awak­ens, which is due for release later this month and is tipped to be the big­gest gross­ing film of all time.

Work has also been tak­ing place on the ex­pan­sion of the stu­dios, which bosses say will al­low it to take on even big­ger projects in the fu­ture, as well as making it more at­trac­tive to film makers.

Spec­tre, which stars Daniel Craig in his fourth film as 007, recorded the big­gest ever open­ing week in the UK (£40m), break­ing the record set by Harry Pot­ter and the Prisoner of Azk­a­ban.

Pinewood’s chief ex­ec­u­tive 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.

“The con­struc­tion of the Pinewood ex­pan­sion, de­signed to meet strong de­mand, is on sched­ule for com­ple­tion in June 2016 and is within bud­get.

“Hav­ing taken full own­er­ship of Shep­per­ton Stu­dios in the pre­vi­ous fi­nan­cial year, 100 per cent of th­ese earn­ings now ac­crue to the com­pany and we are able to re­view the ex­ist­ing mas­ter­plan for de­vel­op­ment of this fa­cil­ity.

“The pos­i­tive re­sults re­ported to­day have con­tin­ued into the sec­ond half of the year and into 2016.”

Block­buster: Daniel Craig as James Bond in Spec­tre

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.