13th May 2008 06:00
Pinewood Shepperton plc
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 first interim management statement, for the period 1st January to 12th May 2008, made in accordance with the UK Listing Authority's Disclosure and Transparency Rules.
Overall Summary
Revenue performance for the period ahead of comparable period last year
Strong levels of business in the film and television services activities
Full year revenue expectations remain unchanged, supported by improving visibility on film revenues
Revenue Performance
As anticipated, trading for the period was ahead of the comparable period last year and in line with statements made on the 3 April 2008 at the time of the Company's preliminary results (for the year to 31 December 2007).
Film
Film revenues reflected stronger demand than the same period last year. At this early stage of negotiations between the US studios and the Screen Actors Guild, there is cautious optimism about the outcome.
Television
Pinewood Shepperton plc continues to experience growth in demand for its television services to the benefit of television revenues.
Media Park
In Media Park revenues, performance has remained consistent, with progress being maintained on the Company's development strategy for its principal studio sites.
Outlook
The Company believes its diversification and growth strategy is well founded and the current level of visibility on prospective revenues reinforces confidence 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:
Annual General Meeting, 23 June 2008
For further information, please contact:
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Pinewood Shepperton plc |
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Ivan Dunleavy - Chief Executive |
01753 656 183 |
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Brunswick Group LLP |
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James Olley / Oliver Hughes |
020 7404 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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