[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Tuesday, 4 September 2007, 15:57 GMT 16:57 UK
Pinewood faces film delay threat
Matt Damon in The Bourne Ultimatum
Pinewood hosted production of The Bourne Ultimatum this year
Delays to productions at Pinewood Shepperton could cost the film studios in Buckinghamshire profits this year.

Pinewood, which hosted production of The Bourne Ultimatum this year, saw a 39% increase in pre-tax profits in the first half of the year.

However, the firm said films entering production later than expected would leave revenues down in 2007 unless deferred productions could be replaced.

Shares were 2% lower as the warning overshadowed the 2.9m pre-tax profit.

Revenues had been boosted by a return to major productions like Casino Royale and pre-tax profit was 7.16m in the year to 31 December, from 571,000 in 2005, and the firm said a decision to move into television production had also swelled its profits.

The Weakest Link, The IT Crowd and Bremner Bird and Fortune were produced in the period alongside blockbuster film Harry Potter and the Order of the Phoenix.

First-half television revenues also fell, by 15%, due to "timing differences", Pinewood said.

Despite the announcement, Pinewood said there was an "increasing interest" in film production activity after the government's new film tax credits, aimed at capturing international film makers, were introduced in January.

The firm said uncertainty remained however over the level of films being produced at the studios in 2008, due to ongoing negotiations in the US between studios and writers on revenues from downloaded films.




SEE ALSO
Big films boost Pinewood profits
27 Mar 07 |  Business
Jobs in UK film industry fall 20%
20 Sep 05 |  Entertainment
Pinewood's glorious movie history
30 Jul 06 |  Entertainment
Studios 'put off' by UK tax laws
28 Nov 05 |  Entertainment
Shepperton studios to get revamp
17 Aug 05 |  Business
Tax worries hit Pinewood profits
31 Aug 05 |  Business

RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites



FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

PRODUCTS & SERVICES

Americas Africa Europe Middle East South Asia Asia Pacific