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U.K.’S PINEWOOD SHEPPERTON STUDIOS REPORTS PROFITABLE YEAR

June 26, 2014 by · Leave a Comment 

Reflecting Hollywood’s continued preference for producing some of its biggest blockbusters at Britain’s Pinewood Shepperton Studios, the U.K. company reported "unprecedented" demand for its facilities during its fiscal year ending on March 31. Revenue, it said, was up 16.5 percent from the previous year to £64.1 million ($109.1 million), while operating profit surged 29 percent to £4.9 million ($8.3 million). "The company has made an excellent start to the new financial year, enjoying good visibility for the year as a whole," Pinewood Shepperton CEO Ivan Dunleavy said in a statement. "Demand for the Studios’ U.K. facilities is at an unprecedented level." He added that the company particularly welcomed the long-delayed decision by local authorities to allow Pinewood Shepperton to proceed with a massive expansion. "We will proceed quickly with the preparations for construction of this much needed additional capacity," he said.