Pinewood Shepperton Touts 'Unprecedented' Demand for Firm's U.K. Studio Space
LONDON – U.K. studio space operator Pinewood Shepperton on Thursday reported improved full-year financials and said demand for its facilities in Britain is at "unprecedented" levels.
Pinewood is known as the British home of the James Bond franchise and the place where Star Wars: Episode VII is shooting.
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"During the year, the company had a strong performance with significant revenue increases in every area of the business," said CEO Ivan Dunleavy. "The company has made an excellent start to the new financial year, enjoying good visibility for the year as a whole. Demand for the studios' U.K. facilities is at an unprecedented level."
The studio operator located just outside London earlier in the month got government approval for a $340 million expansion.
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Dunleavy said Thursday that Pinewood welcomes the decision, adding: "We will proceed quickly with the preparations for construction of this much-needed additional capacity."
Pinewood reported a 16.5 percent increase in full-year revenue to $109 million (£64.1 million) for the fiscal year ended March 31. Operating profit of $8.3 million (£4.9 million) was up 29 percent.