Business

Star Wars and James Bond revenues boost Pinewood profits

Stormtroopers in front of Star Wars sign Image copyright Getty Images

Revenues from the filming of the latest Star Wars and James Bond films have helped to lift profits at movie studio Pinewood Group.

Operating profits more than doubled to £13.6m in the year to 31 March, with revenues up 10.9% to £83.2m.

Star Wars: The Force Awakens and Spectre, the most recent James Bond film, both used Pinewood studios.

Pinewood added the fall in the pound since the referendum was "positive" for its international customers.

It also said that the UK's decision to leave the EU would be "largely mitigated" as most of its biggest customers are in the US.

The pound is now below $1.30 compared with the level of $1.50 it hit just before the referendum on Britain's EU membership.

Pinewood said that it now had five new sound studios, meaning its site to the north of London has capacity to take on two more blockbusters a year.

Earlier this year, financial group Rothschild was hired by Pinewood to carry out a strategic review of its business, which could lead to the sale of the company. Pinewood said this review was "ongoing".

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