Government happy with new Pinewood figures

Wed, 28 Nov 2012

Figures released by Pinewood Shepperton plc this week are said to have given the government assurance following major investment in the film company.

Earlier this year Treasury purchased a 9.9 per cent shareholding stake for £12,230,000. Pinewood also seized control of the Island’s £25 million film and television investment fund.

The company has recorded an increase in revenue, operating profit and basic earnings per share. On top of this it's also reported an encouraging number of productions are set to start shooting in the New Year.

Dom Hemingway is currently being filmed on Island, representing the 100th picture to be made here - in that time it’s estimated £100 million has been generated for the economy.

Treasury Minister Eddie Teare says he hopes this can now draw a line under the various debates about the Pinewood deal.