15th Jan 2020 09:52
(Alliance News) - Everyman Media Group PLC on Wednesday expressed a positive outlook for the year ahead following record annual sales.
The AIM-listed cinema chain said it has achieved record sales in the 52-week period to January 2 of GBP65.0 million, a 25% increase compared to GBP51.9 million a year ago.
The London-headquartered company said its average ticket price grew to GBP11.37 from GBP11.26 year-on-year, while spend per head rose to GBP7.13 from GBP6.30, thanks to service and menu development.
As a result, Everyman said it expects pre-IFRS 16 earnings before interest, taxes, depreciation, and amortization to be around GBP12.0 million, up 30% on the prior year. IFRS 16 is an accounting rule governing the financial treatment of leases.
Everyman operates 33 venues, with 5 new venues opened in the final quarter of its recently ended financial year. The total number of screens now operated by the company is 110, up from 84 a year prior.
"This is a solid result for the year," said Chief Executive Crispin Lilly. "We remain positive on the outlook for the cinema industry, the Everyman brand and for the Company in 2020."
Everyman shares were trading 2.6% higher in London on Wednesday at 219.50 pence each.
By Evelina Grecenko; [email protected]
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