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Annual Results

Cineworld revenues rise

09 March 2017 09:59

Cineworld Group's revenues rose to £797.8m in the year to the end of December - 13% up on a statutory basis and 8.7% up at constant currencies.

Adjusted pre-tax profits rose to £111.4m from £99.0m and the dividend of 19.0p per share is up from 17.5p in 2015.

Chairman Tony Bloom said: "I am pleased to report that 2016 was another gratifying year for the Cineworld Group and its shareholders as we achieved an important milestone - over 100 million people came through our doors to watch a movie.

"I would have found this inconceivable when we first started the Company with just one multiplex in Stevenage in 1996!

"The growth in admissions and EBITDA enabled the Board to declare an increased final dividend of 13.8p per share, making a total of 19.0p for the year.

"Pleasingly, the dividend has now been increased in seven of the past 10 years since the Company was listed.

"The future looks bright and I look forward to 2017 with confidence. There is a strong film release programme planned for the year, we have an excellent estate which will continue to grow (with a further 13 cinemas due to open), and a number of major refurbishments are planned.

"Importantly we have a strong Balance Sheet and can undertake our strategic objectives without financial strain."

At 9:59am: (LON:CINE) Cineworld Group PLC share price was -6.5p at 643.5p

Story provided by StockMarketWire.com

Related Company: CINE

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