FILM studios Pinewood Shepperton gave its chairman Michael Grade breathing space yesterday by forecasting higher-thanexpected revenues.
The group – whose chairman has faced recent calls to resign from activist investor Crystal Amber – said revenues for this year as a whole were now likely to beat market predictions, after a raft of recent film contract wins.
The news comes in the week that Crystal Amber upped its stake to become the largest shareholder in Pinewood, home to the Harry Potter and James Bond films.
Pinewood’s revenues forecast helped offset halfyear results yesterday, which showed pre-tax profits fell seven per cent to £1.5m in the six months to June 30 after revenues declined six per cent.
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