6th Nov 2008 07:00
Pinewood Shepperton plc
06 November 2008
Interim Management Statement
Pinewood Shepperton plc ("the Company"), the leading European provider of studio and related services to the worldwide film and television industry, today issues its interim management statement, for the period 01 July to 05 November 2008, made in accordance with the UK Listing Authority's Disclosure and Transparency Rules.
Overall Summary
Revenue Performance
As anticipated, trading for the period was ahead of the comparable period last year and in line with statements made on 28 August 2008 at the time of the Company's interim results (for the six months to 30 June 2008).
Film
Film revenues reflected stronger demand than the same period last year. The negotiations between the US studios and the Screen Actors Guild remain unresolved but there is cautious optimism about the outcome.
Television
Pinewood Shepperton plc continues to experience strong demand for its studio based television services from major broadcasting customers, to the benefit of television revenues.
Media Park
Media Park revenues have remained consistent, with progress being maintained on the Company's development strategy for its freehold studio sites. The planning application for Project Pinewood is progressing satisfactorily toward formal submission.
Outlook
The Company believes its diversification and growth strategy is well founded and is pleased to have concluded new financing arrangements during August that will support its growth strategy for the next five years. The board remains confident in the outlook for the year as a whole, notwithstanding the current economic climate.
Financial Calendar
In line with the revised reporting requirements the next event in the Company's financial calendar is:
Preliminary Results for 2008, 25 March 2009
For further information, please contact:
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Pinewood Shepperton plc |
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Ivan Dunleavy - Chief Executive |
01753 656 732 |
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Brunswick Group LLP |
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Tom Buchanan/James Olley |
0207 404 5959 |
About Pinewood Shepperton Plc
Pinewood Shepperton plc, comprising Pinewood, Shepperton and Teddington Studios is at the heart of British film and television infrastructure and is one of Europe's leading studio infrastructure groups.
The Company provides facilities for major national and international film production, filmed television, studio (electronic) television recording, the filming of commercials and post production services, and a growing community of over 280 media businesses. www.pinewoodgroup.com
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