7th Jul 2015 06:53
LONDON (Alliance News) - Cinema operator Cineworld Group PLC on Tuesday said it grew revenue across its business in the first 26 weeks of the year, boosted by a strong slate of films, and said it expansion plans are on track.
FTSE 250-listed Cineworld said its pro-forma total revenue for the 26 weeks to July 2, which includes the Cinema City Holding BV business in Central and Eastern Europe, was up by 11.2%.
Box office revenue rose by 10.9% in the period, with admissions growth in all territories, except for Slovakia. The group also saw a 12.9% rise in retail revenue in the period, boosted by the film mix in the first half of the year. The growth in admissions and the film mix also increased advertising revenue for the company, which helped push its other income line up by around 10%.
Cineworld said its first-half trading was positive, with a good film release schedule helping it along, while its expansion plans remain on track, with three cinemas opened in the period.
It also sees a promising second half in store, with a robust film release schedule, including new Star Wars, Hunger Games and James Bond films, and it remains confident of meeting market expectations for the full year.
By Sam Unsted; [email protected]; @SamUAtAlliance
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