Pinewood deal no reflection on company

The two and a half million pounds profit government has gained by selling its shares in Pinewood will go into reserves.

However, Treasury Minister Eddie Teare insists the partnership with the film company will continue to grow.

Government has reduced its holding in Pinewood plc from just under ten per cent to almost five per cent, yielding a return of £7.6 million and a net profit in the region of two and a half million pounds.

Mr Teare says the deal does not reflect on the merits of investing in the company, nor the state of the film industry.