11th May 2018 08:36
LONDON (Alliance News) - FTSE 250-listed Cineworld Group PLC said on Friday that following its USD3.4 billion reverse takeover of US-based Regal Entertainment Group in February, it will change its presentational currency to dollars from the pound.
This follows a significant majority of revenue, costs and cash flow of the cinema chain being made in the US in dollars.
The change is expected to reduce the impact of currency movements in reported results and provide a more "meaningful understanding" of Cineworld's financial performance.
This will start from Cineworld's trading update next Wednesday.
Shares in Cineworld Group were up 0.1% at 259.60 pence on Friday.
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