Everyman looks to reduce costs amid lockdown
Everyman Media Group
115.00p
16:29 25/01/21
Cinema operator Everyman Media said on Thursday that changes to Covid-19 restrictions since its last update caused it to be slightly less optimistic about trading than it had been in late September.
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With all of the group's venues being closed since 30 December, Everyman said it was again concentrating on reducing capital expenditure and operating costs to a minimum, while also working closely with its landlords to secure further rent concessions.
At the end of 2020, the AIM-listed group had net debt of £8.5m, with the continued support of its providers.
Chief executive Paul Wise said: "Whilst the pandemic continues to severely impact our business and industry, we have a strong balance sheet, an exciting incoming CEO in Alex Scrimgeour, supportive staff, customers and shareholders.
"We remain optimistic for the coming year post-lockdown and continue to have confidence in people's appetite to socialise and to be entertained; we believe we will be in a strong position once it is safe to welcome back our customers and teams."
As of 1020 GMT, Everyman shares were down 0.89% at 111.50p.