LONDON (Bloomberg) — Pinewood Shepperton Plc, owner of the studios where James Bond and Harry Potter movies are made, fell the most in two-and-a-half years in London trading after saying production for a "major film" ended before shooting started.

Pinewood dropped 26 pence, or 9.8 percent, to 239 pence, wiping out the stock's gain for this year.

The cancellation, during the Writers Guild of America strike, will "adversely impact" revenue by about £3 million ($6.2 million), mainly next year, Iver Heath, England-based Pinewood said yesterday in a statement. Pinewood, which didn't identify the movie, had £40.7 million of sales in 2006.

"This lost revenue will be tough to claw back given the US writers' strike," Steven Liechti, an analyst at Investec Securities Ltd., said in a note to clients today. The late shutdown indicates lost sales will be "split one-third in 2007 and two-thirds in 2008". Investec rates the stock "hold".

Chief executive officer Ivan Dunleavy didn't return phone calls seeking comment. Replacing the revenue will be "challenging", Pinewood said in the statement.

Striking Hollywood writers and studios said on November 19 they will resume formal talks after the Thanksgiving holiday.

Negotiators for the Writers Guild of America and the studios' Alliance of Motion Picture and Television Producers will meet November 26. Writers went on strike on November 5 after failing to reach an agreement on pay for content used in digital media.

"Other than for the effect of this cancellation, we anticipate performance in 2007 and for 2008 to be in line with expectations," said Pinewood, which had net income of £6.09 million last year.

Pinewood, which has studios as well as special-effects and make-up units, was formed in 2001 with the combination of the U.K.'s two leading movie studios, Pinewood and Shepperton, after more than 60 years as rivals.