Deadline:
The publicly-quoted studio facility faces a renewed attack by shareholder Crystal Amber on Wednesday, when it announces its half-year results. Pinewood is expected to announce operating profits have fallen from last year’s £3.3 million ($5 million). Crystal Amber thinks that all the value of the company is locked up in its property portfolio. But Michael Grade, chairman of Pinewood Shepperton, insists Pinewood is a media company, not a property developer. Crystal Amber counters that the studio group hasn’t been paying its property assets enough attention. Stockbroker Investec has calculated that 82% of Pinewood’s value lies in its property assets, not studio operations. The group could make a lot of money selling off some of its portfolio.
