13th Mar 2019 11:32
LONDON (Alliance News) - Everyman Media Group PLC on Wednesday said it saw a strong growth in profit in its most recently ended financial year helped by new site openings.
The cinema company said revenue in the 53 weeks to January 3 grew by 28% to GBP51.9 million from GBP40.6 million reported a year prior, pushing pretax profit up by 69% to GBP2.7 million from GBP1.6 million.
Everyman does not pay a dividend.
Everyman opened new sites during the year in York, Glasgow, Altrincham, Crystal Palace and Liverpool. The company said, as at Tuesday, it operates 26 venues, up from 21 at the beginning of 2018.
Everyman said it has a further 14 committed venues, of which seven are expected to open in 2019.
Admissions in the UK increased in 2018, ending the year up by 6.4 million at 177 million, the highest level since 1970. For Everyman, admissions in its financial 2019 increased by 25% on last year to 2.8 million.
The average ticket price remained flat during the year, the company said, at GBP11.26, while food & beverage spend per head was 5.5% higher, at GBP6.30.
Looking ahead, Everyman said trading has been in line with expectations since the year end and the film release schedule for 2019 looks both strong and diverse.
Everyman shares were trading 6.1% higher on Wednesday at 192.00 pence each.
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