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The force is with studio as it boosts profits thanks to blockbusters

By Ravender Sembhy

Published 12/07/2016

Star Wars: The Force Awakens helped profits at Pinewood Studios reach £13.6m
Star Wars: The Force Awakens helped profits at Pinewood Studios reach £13.6m

James Bond and Star Wars have helped Pinewood Group more than double its annual profits, with the film studio saying the plunge in sterling following the EU referendum would also give it a boost.

Revenues at Pinewood grew 10.9% to £83.2m last year, while operating profit more than doubled to £13.6m.

Star Wars: The Force Awakens and James Bond's latest incarnation in Spectre, filmed at its studios, saw the firm cash in on two of the largest grossing movies of last year.

Britain's exit from the European Union will be "largely mitigated" as its most significant customers are US-based, Pinewood said.

Chief executive Ivan Dunleavy said: "The result of the UK's referendum on membership of the EU is now known. In the context of our business, the decline in the sterling exchange rate is undoubtedly positive for our international customers."

Five new sound stages were now operational, he added.

Belfast Telegraph

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