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Going Potty on film cash.

HARRY Potter film studios Pinewood-Shepperton yesterday forecast higher-thanexpected revenues.

The group, whose chairman Michael Grade has faced calls to resign from investor Crystal Amber, said the outlook had been boosted by a raft of recent film contract wins.

The news comes in the week CA upped their stake to become the largest shareholder in the studios, who also make the James Bond films.

They have pushed former ITV boss Grade to step down after criticising the film company's performance since listing on the stock market in 2004 - a period in which profits have fallen by more than half.

The revenues forecast helped offset half-year results which showed pre-tax profits fell seven per cent to pounds 1.5million in the six months to June 30.

Crystal Amber have increased their stake from 18 to 27 per cent since June, overtaking property group Peel Holdings as the biggest shareholder.
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Title Annotation:Business
Publication:Daily Record (Glasgow, Scotland)
Date:Aug 26, 2010
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