| CATEGORY: SMALL CAPS NEWS SECTOR: TRAVEL & LEISURE |
Cineworld lifts revenues, confident outlook |
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By Jana Weigand
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Thu 21 Aug 2008
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LONDON (SHARECAST) - Cinema chain Cineworld lifted box office revenues by 1% in the first half, while total revenues improved by 0.9%, thanks to the success of blockbusters such as “I Am Legend” and “Indiana Jones”.
Group revenue rose to £137m in the 26 weeks ended 26 June from £135.7m, with box office revenues up to £89.6 from £88.7m last time. Earnings before interest, tax and amortisation came in slightly lower at £21.5m compared with £21.7m previously.
The group said it is confident that the line up of films in the second half will drive admissions, particularly in the fourth quarter, when James Bond: Quantum of Solace, Madagascar 2 and High School Musical 3 hit the screens.
“The second half has started very well for the group and we have some exciting new releases ahead of us in the remainder of the year and beyond,” said chairman Tony Bloom.
“This, combined with the opportunity presented by our recently formed screen advertising joint venture, Digital Cinema Media, means we look forward with confidence to the future,” he added.
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