Cineworld enjoys boost in revenues after blockbuster year

 

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Blockbusters such as Avengers: Age of Ultron have helped Cineworld to record an impressive boost in revenues.

The UK’s biggest cinema chain revealed total revenues rose 8.8 per cent in the 19 weeks to 14 May.

Films such as Fifty Shades of Grey and Fast & Furious 7 also contributed to the sales rise. Box office takings grew 7.9 per cent, with sweets, drinks and popcorn sales up 8.5 per cent.

Overseas, Cineworld box office takings grew in every territory apart from Slovakia, while retail sales rose in every country thanks to an improved range of snacks.

 

Growth also came from 17 screens opened in Swindon and Broughton, north Wales, along with a Picturehouse in East Dulwich, south London. Bucharest in Romania and Letnany in the Czech Republic got new Cineworlds.

Bosses said they were looking forward to the upcoming summer blockbusters, including Jurassic World, San Andreas, Minions, Star Wars: Episode VII, the next Bond film, Spectre, and the final instalment of the Hunger Games films – Mockingjay Part 2.

Investors will be expecting a strong summer compared with a year earlier when many Hollywood studios held back blockbusters and viewers watched the World Cup instead.

The company said: “The board remains confident of delivering a performance for the year as a whole in line with current market expectations.”

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