Annual Report & Accounts 2013 - Pinewood Studios

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Pinewood Shepperton plc is a leading provider of studioand related services to the global film and televisionindustry. Our services support film production, filmedtelevision and studio television recording, digital contentservices and facilities for media related businesses.The Group’s strategy is to:• Optimise the use of existing facilities;• Enhance the Studios through improvement and expansion;and• Develop other opportunities that provide benefits tothe Group.ContentsHighlights 1Chairman’s statement 3Operating review 5Financial review 11Board of Directors 16Directors’ report 18Key business risks 23Corporate governance 25Employees 32Corporate responsibility 34Directors’ remuneration report 36Consolidated financial statementsIndependent auditor’s report 42Group income statement 44Group statement of othercomprehensive income 45Group statement of financialposition 46Group statement of cash flows 47Group reconciliation of movementin net debt 48Group statement of changesin equity 49Notes to the consolidated financialstatements 50Company financial statements(UK GAAP)Independent auditor’s report 96Parent Company balance sheet 98Notes to the financial statements 99Company information 112
Pinewood Shepperton plc 1Annual Report & Accounts 2013Highlights• Revenue £55.6m(15 month period ended 31 March 2012: £63.0m)• Operating profit £5.4m(15 month period ended 31 March 2012: £2.7m)• Operating profit before exceptional items £8.4m(15 month period ended 31 March 2012: £13.2m)• Operating profit from Media Services activities £10.5m(15 month period ended 31 March 2012: £13.9m)• Basic earnings per share 3.6p(15 month period ended 31 March 2012: 6.3p loss)• Basic earnings per share adjusted for exceptional items10.1p (15 month period ended 31 March 2012: 14.6p)• Final dividend of 1.5p per share declared(15 month period ended 31 March 2012: nil)• Net debt of £44.7m(31 March 2012: £50.4m)and gearing ratio of 55.8% (31 March 2012: 69.0%)
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Annual Report & Accounts 2013 - Pinewood Studios

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