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Cineworld profit more than doubles, coming to £67.3m

Cineworld Group’s pre-tax earnings more than doubled in 2014, growing to £67.3m ...
Newstalk
Newstalk

11.04 12 Mar 2015


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Cineworld profit more than dou...

Cineworld profit more than doubles, coming to £67.3m

Newstalk
Newstalk

11.04 12 Mar 2015


Share this article


Cineworld Group’s pre-tax earnings more than doubled in 2014, growing to £67.3m for the year - an increase of 118 percent on the previous year. Revenue was up by 52.5 percent to £619m.

Markets have reacted favourably to the results, shares bounced by 4.58 per cent to 469.35p after the figures were announced.

The group is the UK's biggest cinema chain, it also operates in Ireland, and expanded into eastern Europe and Israel through the £500m acquisition of Cinema City.

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It now operates on 203 sites with 1,875 screens, making it the second largest cinema group in Europe.

Mooky Greidinger, chief executive of Cineworld expects 2015 to be another blockbuster year, with films from established franchises like James Bond, Star Wars and Hunger Games set to fill cinemas.

He commented on the figures: "As a group, we have outperformed the market and continued to grow revenues despite a year which saw a decline in global admissions. During the year we have continued to expand our estate by opening four new cinemas."

"Overall, the strength of the film line up in the current year, coupled with our good pipeline of new sites across our international estate, gives us confidence that we are on track with our plans for 2015," he added.  


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