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Back in black: Skyfall helps Shepperton into profit

Daniel Craig in Skyfall

Daniel Craig in Skyfall

JAMES Bond has helped provide a boost for film studio operator Pinewood Shepperton as the group yesterday hailed a return to profit.

Blockbuster films such as the 23rd James Bond outing Skyfall and Disney’s latest movie Maleficent, starring Angelina Jolie, boosted interim revenues at its film studio business by almost 15 per cent to £18.8 million.

The hike helped Pinewood swing out of the red in the half-year, with underlying pre-tax profits of £3m in the six months to 30 September.

The group had slumped to a £5.4m loss in the second half of 2011, leaving it with a £3.9m shortfall for the year after its bid to build replicas of Amsterdam, New York and Paris on green belt land failed.

The film studio arm was the star performer in the first half, thanks also to productions including Universal’s Fast and Furious 6.

Chief executive Ivan Dunleavy added there was an “encouraging” number of film productions in the pipeline for next year.

An interim dividend of 0.5p per share was declared.

 

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