Studio Babelsberg's profits up

Revenue soars to $136 mil in 2007

FRANKFURT, Germany -- Studio Babelsberg profited handsomely from Germany's new tax rebate scheme for feature films, posting record figures for 2007.

Revenue last year soared to 87.1 million euros ($136 million) from 16.4 million euros in 2006, and Babelsberg booked a net profit of 6 million euros ($9.4 million) compared with a 2.7 million  euro loss a year earlier.

Hollywood productions including "Speed Racer," "Valkyrie" and "The International," all of which tapped the new rebate scheme, accounted for the bulk of production.