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13 Mar 2019 | 10:17

Everyman Media Group profits jump as new openings drive admissions

Cinema group Everyman Media reported Wednesday profits jumped sharply as new openings bolstered admissions.

For the 53 week period ended 3 January, pre-tax profits rose 67% to £2.72m and revenue jumped 27.7% to £51.9m.

Admissions were up 25% on last year to 2.8m. The company opened 5 new Everyman venues in the year, growing its estate to 26 sites and 84 screens as at 12 March 2019. Everyman had committed to a further 14 venues, of which 7 were expected to open in 2019. 'The Group continues to balance the development and growth of the pipeline for new venues with the opportunities for growth within our existing estate. Progress in this latter area has been strong in 2018 with admissions, food & beverage revenue and other ancillary income from the continuing estate growing well,' the company said.

'The Directors believe that continuing to achieve growth in both of these areas will enable us to increase our customer base and frequency of visits in communities across the country whilst continuing to deliver exciting growth for the business and for our shareholders.'

At 10:17am: (LON:EMAN) Everyman Media Group Plc share price was +6p at 187p

Story provided by StockMarketWire.com
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