News

Pinewood number cruncher ups stake

24 October 2006 16:03:00

News that Pinewood Shepperton finance boss Patrick Garner has spent almost £106,000 on 49,249 shares sent the film studio higher Tuesday.

Garner paid 214.75p per share for the additional stake, taking his holding to 126,240 shares, or 0.276% of the issued capital of the company.

Last month, Pinewood moved into profit for the first half and said it expects more major film productions to come to the UK.

Chief executive Ivan Dunleavy said, "We expect to see a return to a more normal film production environment by the end of 2006 with larger film productions once again committing to filming in the UK for the future."

The group reported a pre-tax profit of £2.07m for the six months to June from a loss of £108,000 a year ago, on turnover up 41% to £18.7m compared with £13.3m last time.

Immedia was static though as boss Bruno Brookes snapped up 70,000 shares at 14p per share. The former Radio One DJ now holds just over 2m shares, representing 15.35% of the business.

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