Pinewood Shepperton plc Annual Report ... - Pinewood Studios

Pinewood Shepperton plc Annual Report & Accounts 2010 25Key business risks continued3. Operational risksRisk Description MitigationHealth and safety,environmental anddisaster recoveryA significant incident could put people and/or theenvironment at risk as well as damage theGroup’s reputation.A major incident such as a fire or explosion mayresult in a number of issues including revenueloss and reputational damage.A dedicated health, safety and fire team carriesout regular risk evaluation. Further details can befound in the Corporate responsibility section ofthe Annual Report.A Business Continuity Team has been establishedand a policy is in place to ensure that operationalbusiness continues as far as possible in the eventof a major incident.Adequate insurance cover is in place to mitigatethe risk of the business suffering no permanentlong-term detrimental effects from a significantnegative event.Property PlanningThe Group has exposure to risk if not able tocommercially exploit existing and proposedplanning consents to the fullest potential inaccordance with long range plans.The Group would assess alternative uses that arein line with the wider Group strategy should sucha situation occur.Failure of keysuppliersThe current economic climate could result in keysuppliers to the Group being unable to maintainan effective supply chain.The Group retains good supplier relationships andalternative suppliers for generic services could besourced in the medium term.Health risk ofpandemics, acts ofterrorism andnatural disastersDiseases, terrorist threats and natural disastersmay reduce the appeal to customers to travel andmay impact local operational capability.With UK-based studios and operational partnersin a number of international locations the Groupconsider that the availability of location optionswould reduce the risk in this area.The Business review contains forward-looking statements that are made by the Directors in good faith. This informationis based on the view of the Board of Directors at the date of approval of this Annual Report and based on knowledgeand information at that time together with what are considered to be reasonable judgements. By their nature, forwardlookingstatements involve risks and uncertainties because they relate to events and depend on circumstances that willoccur in the future. There are a number of factors outside of the Group’s control which could cause actual results anddevelopments to differ materially from those expressed or implied by these forward-looking statements, including factorsoutside of the Group’s control. Any forward-looking statements speak only as of the date that they are made, and theGroup gives no undertaking to update forward-looking statements to reflect any changes in its expectations with regardthereto or any changes to events, conditions or circumstances on which any such statement is based.