Pinewood loses 3.9m in 2011 despite record revenue due to cancelled project

Bond News - 01-03-12
Home of most James Bond films, Pinewood Studios parent company Pinewood Shepperton slumped to a 3.9m loss in 2011 after it failed in an attempt to build replicas of Paris, New York and Amsterdam on green belt land - reports the Independent

Although the studios raked in record revenues of 50.7m in 2011 (an increase of 17% thanks to big movies like "The Hobbit" and "Skyfall"), it took an exceptional charge of 7.1m reflecting five years of costs for its "Project Pinewood" application, which officials turned down in January.

The result was a drop to 3.9m into the red, after profits of 5.8m the previous year.

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