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Trading statements

Cineworld revenues up

15 November 2016 07:39

Cineworld reports strong revenue growth of 14.6% in the 45 week period ended 10 November, with constant currency revenue growth of 10.8%.

Box office revenues increased by 8.5% on a constant currency basis.

The group said admissions grew satisfactorily in both the UK & Ireland and the ROW, with double digit growth being achieved in the ROW.

Family titles such as "The Secret Life of Pets", "Finding Dory", "The BFG" and "Trolls" performed well during the second half of the year. "Bridget Jones's Baby" which was released in September exceeded expectations and the recently opened "Doctor Strange" is performing strongly.

An update says: "The pleasing growth in retail revenues of 14.1% on a constant currency basis was driven by both the nature of the film mix, with more family films, and the continued expansion of retail offerings. This included the opening of four additional Starbucks sites during the second half of the year taking the total number in the estate to 23. The Group has also opened its second VIP Experience in the UK in Glasgow, and its second in Romania, in the new site Bucharest Titan. The increased admissions for the year to date also contributed towards the increase in the Other Income revenue stream."

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