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Article: Knock on Pinewood: pic delays will hurt U.K. studio's profits.(World News)(Pinewood Shepperton Studios Ltd.)(Brief article)
- Article from:
- Daily Variety
- Article date:
- June 14, 2007
- Author:
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Pinewood Shepperton has issued a profit warning after being hit by delays on several upcoming film projects.
The group, which owns the U.K.'s two largest movie studios, said "a number of significant film productions" are contracted to start shooting late this year.
But because most of these will begin filming some weeks later than expected, the bulk of the revenues will fall into the first half of 2008. As a result, film revenues in the second half of 2007 will be flat; an upswing had previously been predicted.
Analysts swiftly revised their forecasts for Pinewood Shepperton, with the studio's own broker, Cazenove, cutting its profit target by ...