Pinewood Shepperton revenues up 37%

LONDON -- Pinewood Shepperton studios has announced its revenues are up 37% in the first half of this year to 26.1 million ($43.1 million), compared with $31.3 million in the same period of last year. Film revenues for the company were up 68% from $17.7 million in 2010 to nearly $30 million, thanks to Warner Bros.' "Dark Shadows," "Wrath of the Titans" and "Gravity," and Pathe's "The Iron Lady," Hammer Films' "Woman in Black," Universal's "47 Ronin" and Fox's "Prometheus," which all lensed at the studios. Additionally, Pinewood Shepperton announced it is housing production for Universal's "Snow White and the Huntsman," toplining Kristen Stewart, Charlize Theron and Chris Helmsworth, which has started production. Interim results for the six months ending June 30 also reveal that operating profit was up 128% to $10.9 million while its profit before tax stayed level at $2.5 million compared with last year. The studios have also begun development of an additional 30,000 square foot stage, which was approved by the board earlier this month. The new addition is estimated to cost around $8.4 million and is expected to be completed by the second half of 2012. The first half of the year has delivered a positive performance across the business with good demand from big budget films and large-scale TV productions," said chief exec Ivan Dunleavy. "Despite the current economic uncertainties, the company is performing strongly. Trading since June 30th has been buoyant and is expected to continue to perform well for the year as a whole. Our investment in infrastructure to support growth is ongoing and we look to the future with confidence." In July, Brit real estate, transport and infrastructure investment company Peel Holdings completed its takeover of Pinewood Shepperton, upping its ownership to 71.1% of the stock in the studios. The stake is still not enough to permit the Manchester, U.K.-based outfit, chaired by billionaire property developer John Whittaker, to delist the company from the London Stock Exchange and go private. Such a move would require 75% ownership of Pinewood. Contact Diana Lodderhose at diana.lodderhose@variety.com