Pinewood Group, which runs Pinewood and Shepperton Studios — home to recent blockbusters including “No Time to Die,” “Black Widow” and “Cruella” — has posted a £102.9 million (125 million) turnover for the financial year ending March 31, 2022.
That’s a £6 million increase on the previous year despite the fact that for much of 2021 the Covid-19 pandemic was still having an impact via social distancing, mandatory self-isolation and lockdowns. Despite this, the U.K. has experienced a production boom since shooting started back up in July 2020 following the implementation of Covid-19 protocols.
The 60-page financial report, filed at U.K. companies registrar Companies House earlier this week, states that “The Group has operated at full capacity throughout the year,” which ran from March 2021-2022.
In terms of profit, those revenues translated into £63.6 million gross profit — up on £3.1 million the previous year — and a net profit of £31.3 million, which is slightly down from £33.7 million the previous year.
That’s a £6 million increase on the previous year despite the fact that for much of 2021 the Covid-19 pandemic was still having an impact via social distancing, mandatory self-isolation and lockdowns. Despite this, the U.K. has experienced a production boom since shooting started back up in July 2020 following the implementation of Covid-19 protocols.
The 60-page financial report, filed at U.K. companies registrar Companies House earlier this week, states that “The Group has operated at full capacity throughout the year,” which ran from March 2021-2022.
In terms of profit, those revenues translated into £63.6 million gross profit — up on £3.1 million the previous year — and a net profit of £31.3 million, which is slightly down from £33.7 million the previous year.
- 7/1/2022
- by K.J. Yossman
- Variety - Film News
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