Cineworld results show strong finish to first half with growth in revenues, EBITDA and market share.
UK exhibitor Cineworld Group plc has announced its interim results for the 26 week period ended 30 June 2011, with a group revenue of £163.6m, up 1% on the same period in 2010.
EBITDA was up 4.9% to £25.6m and interim dividends stood at 3.6p per share, up 5.9%.
Operationally, the company reported the largest slice of the UK box office market share at 26.4%. Box office receipts were up 2% at £113.9m and admissions were up 2.2% at £23.2m.
Commenting on the results, Stephen Wiener, Chief Executive Officer of Cineworld Group plc, said: “We are pleased to announce solid first half results where we achieved growth in both revenue and EBITDA despite a lower number of blockbuster and 3D film releases during the period. The resilient trading performance, together with a reduction in net debt, has resulted in the Group being in a sound financial position. Against this backdrop, we have again increased the interim dividend to our shareholders.”
“The strength of the film line up in the second half, coupled with our solid first half performance, underpins our confidence in performing in line with market expectations for the year and delivering further value to shareholders.”