Results round-up

Film and TV studio Pinewood, home to Bond’s Spectre and Star Wars: The Force Awakens, reported an increase in full year revenue as it completed part of is development programme and said it does not expect to be affected by Brexit.

Group revenue increased 10.9% to £83.2m for the year ending 31 March 2016 and normalised earnings per share increased 31.1% to 17.7p.

Media Services grew by 16.4% to £66.6m for the year including £900,000 of intersegment revenue. Intersegment revenues relate to revenue generated from the utilisation of the company's core services by the group's wholly-owned film production companies.

The company said that phase one of its Pinewood Studios development framework (PSDF) expansion was completed on 30 June.

The company said that as most of its customers are international therefore the weak pound should benefit the company. Since the European Union (EU) referendum Brexit result the value of the pound has plummeted, which should benefit exports.

Normalised profit after tax increased 51.6% to £10.1m and group operating profit increased 136.3% to £13.6m. Net debt also increased by 1.2% to £72.8m.

Collagen Solutions, a manufacturer and developer of collagen medical products, narrowed its full year losses as revenue jumped following a new acquisition and investment in patented products.

Revenue and other income for the year ending 31 March increased by 213% to £3.2m. The company said this reflected solid results from newly acquired Southern Lights Biomaterials, which increased its global reach.

The company said that revenue for North America grew by 231% to £1.808m, which was also partly due to the acquisition and organic growth from existing customers. Revenue from Asia increased by 311% to £1.175m. Revenue for Europe was flat at £147,000 for the year, but the company expects growth from the region to increase due to an appointment of new dedicated manager for the region.

Administrative expenses increased 95.4% to over £2.4m. Losses before interest tax and depreciation and amortisation (LBITDA) decreased 40.6% to £410,016. Loss per share fell 51.3% to 0.57p.

Net cash used in operations during the year was down 81.8% to £194,82 and net cash used in investing activities was also down 72.6% to £660,012. The company’s cash balance was down 26.4% to £2,493,146.