Pinewood studios to boost British films

Small-budget film-makers will soon roll cameras alongside producers of blockbuster movies after studios giant Pinewood Shepperton revealed plans to invest millions of pounds in British films.

Pinewood, which is home to the James Bond and Harry Potter franchises, said it will invest up to a 20 per cent stake in films with production budgets of around £2 million and will buy in about four films each year.

The chosen films will have access to available space at its studios in Buckingham shire and Surrey.

The group hopes the selected Brit flicks will echo the success of Oscar-winner The King's Speech, which cost £9 million to make and has grossed more than £150 million since its release.

The announcement comes as the 75-year-old studios, also home to television shows such as Dancing On Ice and Dragons' Den, posted a 31 per cent increase in pre-tax profits to £5.8 million in the year to December 31 and an 8 per cent increase in revenues to £43.4 million.