James Bond the hero as Pinewood shrugs off slowdown

Filming of the new James Bond film starring Daniel Craig helped Pinewood Studios' owner to deliver bumper profits today.

Pinewood Shepperton said profits in the first six months of the year jumped 31% from £2.9 million to £3.8 million as the film industry brushed off the economic slowdown.

As well as shooting the latest 007 blockbuster Quantum of Solace, Pinewood is home to productions including Richard Curtis's The Boat That Rocked starring Philip Seymour Hoffman and The Wolfman, featuring Emily Blunt, Benicio Del Toro and Anthony Hopkins.

Revenues from film ticked up from £10.8 million to £13 million, helping group revenues grow from
£18.3 million to £21.7 million. The dividend is up from 1p to 1.05p.

Pinewood Shepperton also filmed television productions including Gladiators, The Lily Allen Show, New Tricks, Little Dorrit and King Lear.
Chief executive Ivan Dunleavy said: "The past six months have continued to demonstrate Pinewood Shepperton's ability to diversify and deliver consistent revenue streams even in times of economic uncertainty."

However, the firm warned that a strike by actors in Hollywood could hit film revenues next year. The Screen Actors Guild of America began negotiations with major US studios this summer but they are so far unresolved.

There are hopes a new board of the guild, due to be appointed next month, will resolve the dispute.
Pinewood added that it was confident on the outlook for this year.