Hobbit and James Bond's Skyfall power MGM windfall

MGM, the storied movie studio that exited bankruptcy protection in 2010, posted a more than a three-fold increase last year net income, the company said.

Blockbuster hits Skyfall and The Hobbit bolstered its profit last year to US$129.2 million (HK$1.0 billion), from US$35.2 million (HK$273.2 million) in 2011, it said.

via Business feed http://www.scmp.com/business/companies/article/1194383/hobbit-and-james-bonds-skyfall-power-mgm-windfall