Pinewood Group, which runs Pinewood and Shepperton Studios — home to recent blockbusters including “No Time to Die,” “Black Widow” and “Cruella” — has posted a £…
— home to recent blockbusters including “No Time to Die,” “Black Widow” and “Cruella” — has posted a £102.9 million turnover for the financial year ending March 31, 2022.
The Group also paid back £0.5 million towards the Coronavirus Job Retention scheme, which they took part in during the throes of the pandemic and noted that “revenue from international agreements declined marginally compared with prior year.” This was due, the report states, to “the exit” of the Group’s sales and marketing agreement in October 2020 with Trilith Studios in Atlanta, Georgia .
“This sees 100% of the Group’s production accommodation, existing and currently under construction, being let under long-term index-linked contracts,” the report states. “With long-term contracts in place for 100% of the existing production accommodation at our U.K. sites, where the rent is payable in advance, the risk of low occupancy levels or downward pressure on our rates is substantially eliminated in the medium-term,” the report continues.
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