UK studio Pinewood Shepperton has issued a warning to investors that its full-year revenues will only show a small increase and film-related revenues will be flat.

Ivan Dunleavy, chief executive of the Pinewood Studios Group, said: 'The timing of film production is always a major variable for our film services business and our current outlook for the second half reflects this.'

The studio said it will host a 'number of significant' film shoots to start later in 2007 and continue into 2008, but that this year's finances would be impacted because some of those productions will start shooting later than expected.

'With more than six months to go our forward contracted position for the first half of 2008 in film is particularly strong,' Dunleavy said. 'Our strategy to diversify our business away from more volatile film revenues continues to show positive benefits.'

Pinewood and Shepperton recently hosted such titles as Atonement, Casino Royale, Children Of Men, Stardust, The Bourne Ultimatum, His Dark Materials: The Golden Compass, and United 93 .

Films already shooting at Pinewood and Shepperton in 2007 include The Edge Of Love and Sweeney Todd.

The Studio Group doesn't discuss forthcoming projects, but likely big shoots in late 2007/early 2008 include Bond 22 and Mamma Mia!.