Cineworld eyes boost from 4D
Thursday 08 March 2012
The UK's largest cinema operator today warned Euro 2012 and the
London Olympics would present challenges this year, but said a strong
line up of sequels and new "4D" seats should offer support to the
Cineworld, which has 79 cinemas and 811 screens, said it would trial D-box seats, which shake and move according to the action in the film, at its Glasgow venue.
The group, which has a 24.6% market share in the UK and Ireland, has experimented with new formats including super-size Imax screens and an upmarket cinema concept called The Screening Rooms, recently tested in Cheltenham, Gloucestershire.
Looking ahead, Cineworld hopes blockbusters such as Batman instalment The Dark Knight Rises, The Amazing Spiderman and Lord of the Rings prequel The Hobbit, will pull in enough customers to offset the loss of trade to this summer's major sporting events.
Cineworld reported a 10% rise in pre-tax profits in the year to December 29 to £33.4 million, but revenues only edged up 1.5% to £348 million in the period.
Anthony Bloom, Cineworld chairman, said: "We have made a sound start to the new financial year and while the forthcoming European football championship and London Olympics present further challenges, there is a strong line up of films to support the rest of the year."
The group said it remained "committed" to expansion in 2012 after opening a new seven-screen cinema in Leigh, in Greater Manchester, while the conversion of all its screens to digital formats is expected to complete this summer.
The company's primary income comes from the box office, which saw a 2.7% rise in sales to £242.1 million, while the average ticket price increased marginally by 0.4% to £5.01.
Box office sales growth was offset by a fall in the net retail spend per person to £1.69 from £1.73, as cash-strapped consumers thought twice about buying sweets, popcorn and drinks to accompany the movie.
Cineworld has started work on a new seven-screen site in Aldershot, Hampshire, which should open in the fourth quarter of the year, while 10 additional development sites have been signed.
The group is also looking for new sites to expand its Screening Rooms concept, which offers larger, more comfortable seats and an exclusive bar.
Shares in Cineworld were ahead by nearly 1% after today's results.
- 1 Katie Hopkins attacked me on Twitter — so I reported her to the police for inciting racial hatred
- 2 I might be an MP, but that doesn't stop me fighting sexism with my breasts
- 3 Martha Stewart accuses Snoop Dogg of 'smoking for four hours' during Justin Bieber Roast
- 4 Google April Fools': company unveils backwards search engine and huggable digital assistant
- 5 April Fools' Day 2015: The best hoax news stories from around the internet
Martha Stewart accuses Snoop Dogg of 'smoking for four hours' during Justin Bieber Roast
April Fools' Day 2015: The best hoax news stories from around the internet
April Fools' Day 2015 live: The best pranks and fake stories from around the world
University of Cambridge: Remains of 1,300 scholars are found under building
Turkey power cut: Prime Minister says nationwide blackout could be caused by terrorists
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
Street preacher quoting from the Bible fined for calling homosexuality an 'abomination'
Woman filmed launching racist tirade against men on the Tube for speaking in 'own lingo'
Katie Hopkins attacked me on Twitter — so I reported her to the police for inciting racial hatred
The West has it totally wrong on Lee Kuan Yew
David Cameron calls Labour 'hopeless, sneering socialists' while announcing 7-day NHS plans
iJobs Money & Business
£20000 per annum + commission: SThree: Sthree have an exciting opportunity for...
£18000 - £32000 per annum: Recruitment Genius: A Telesales Executive is requir...
£45000 - £50000 per annum + benefits : Ashdown Group: A highly successful, glo...
£50,000 - £55,000: Neil Pavier: Are you a professionally qualified commercial ...