Cineworld posts increase in revenue, remains upbeat over full year goals
Cinema operator Cineworld Group reported an increase in its pro forma revenue in the first 46 weeks of the year, boosted by strong performances across the board.
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In the period to 19 November, total pro forma revenue growth was up 12% year-on-year, with box office revenue and retail revenue rising 11% and 13% respectively, while other sales climbed 13% from the corresponding period in 2014.
The FTSE 250 group said revenue in UK and Ireland rose 11%, while revenue across Central and Eastern Europe and Israel was up 13%.
Cineworld added its expansion plans remain on track and it has opened three new cinemas in the UK, four in Romania, two in Poland and one in Israel and indicated it was confident to meet its full year expectations, thanks to the recent release of The Hunger Games: Mockingjay Part 2' and the upcoming release of Star Wars: The Force Awakens'.
Cineworld shares were down 2.11% to 524.20p at 0853 GMT on Tuesday.