Pinewood scoress hit despite X-rated write-off

Film studio Pinewood Shepperton's results received rave reviews, despite the unpleasant plot twist involving a massive write-off of costs relating to its Project Pinewood expansion project.

Film studio Pinewood Shepperton's results received rave reviews, despite the unpleasant plot twist involving a massive write-off of costs relating to its Project Pinewood expansion project.

The company, which is changing its year end after becoming a subsidiary of Peel Holdings, reported figures for a 15-month period which showed it slipped into the red, after spending £3.67m on fighting the Peel takeover and writing off a five-year £7.07m investment on Project Pinewood, which got the thumbs down from the Secretary of State for Communities and Local Government, who refused planning permission for the project.

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