Cinema chain Cineworld reported a 1.1 per cent increase in revenue during the 26 weeks ended June 28 and remains confident of delivering growth for the year as a whole in line with current market expectations.
Box Office revenue climbed 4.1% on the back of a higher average ticket price and marginally lower admission levels; down 0.8%. Total retail revenue fell 2.1% after marginally lower spend per person.
Other Income fell 18.7% due primarily by the removal of the booking fee, as well as lower sales of 3D glasses. Cineworld's box office market share was at 24.7% compared to 24.9% in 2011.
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Screen advertising revenues, which make up over half of "Other Income", were down 10.9% from the previous year, reflecting the general trend in the wider advertising market, and the anticipated focus of advertising on the European football championships, the group explained.
Looking ahead to the second half of the financial year, Cineworld's plans to open a new seven screen cinema in Aldershot and the conversion of its digital projection estate by the end of the summer are all progressing on schedule.
Cineworld added: "While the timing of the Olympics is expected to add to the challenges of a tough third quarter comparative, the film line up has strong 3D product in the second half, which includes 'The Amazing Spiderman', 'Ice Age 4' and 'The Hobbit' and is matched by an exciting range of 2D films including 'The Dark Knight Rises', the concluding film of the Twilight series 'Twilight Saga: Breaking Dawn (part 2)' and the next Bond title 'Skyfall'."
"As a result we remain confident of delivering growth for the year as a whole in line with current market expectations."
CJ
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