Pinewood Shepperton sees further film delays

British film studios Pinewood Shepperton Plc said on Tuesday it had been hit by further delays in major productions, and it was possible film revenues in 2007 would be below last year's - reports Reuters.

The company, which first warned on revenues in June following a delay in the start of some films, said efforts were being made to replace delayed productions, but added that the delays would benefit results in 2008.

Pinewood, famous for hosting the filming of James Bond films, said half-year pretax profit rose 36 percent to 2.9 million pounds ($5.86 million), but said turnover fell slightly to 18.3 million.

Of that, 10.8 million pounds came from the film division, but the company said it was planning to grow different revenue streams, such as TV.

"Pinewood Shepperton is making steady progress on our strategic developments for the future of the business as we move towards more diversified and higher quality revenue streams," Chief Executive Ivan Dunleavy said in a statement.

Shares in the company closed on Monday at 255 pence, valuing it at 116.8 million pounds.

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