Potter works his magic on indy cinema chain
The leading independent cinema chain, Apollo, saw turnover soar 19.5 per cent in the year to 31 March, after box office hits such as Harry Potter and the Deathly Hallows.
According to results just filed with Companies House, revenue reached £20.2m, and although there was a pre-tax loss of more than £800,000, this was down on 2010's £1.1m. Much of the loss was due to costs associated with converting screens to digital and refurbishing a cinema.
The report also showed that all 83 screens – the size of the estate at year end – had digital projections, with about three-quarters 3D enabled.
The directors' report stated: "The company has taken advantage of the investment in digital projection equipment and 3D to drive admissions, box office revenue, and average ticket prices."
The next results should see further improvements, because admissions across the industry rose in 2011. Apollo's managing director, Rob Arthur, has said ticket sales are expected to top £1bn.
- 1 Forget 'The Dress': Here are five of the biggest news stories you might have missed
- 2 The black and blue dress: Makers considering a white and gold version
- 3 PornHub turns masturbation into energy in bid to save the planet
- 4 The remarkable archaeological underwater discovery that could open up a new chapter in the study of European and British prehistory
- 5 Saudi Muslim cleric claims the Earth is 'stationary' and the sun rotates around it
New theory could prove how life began and disprove God
This is what it's like to be dead, according to a guy who died for a bit
'Cash for access' scandal: Sir Malcolm Rifkind says 'unrealistic' for MPs to live on £67,000 salary
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Ukip would cut billions from Scottish budget to fund English tax cuts
Russia's roadmap for annexing eastern Ukraine 'leaked from Vladimir Putin's office'
iJobs Money & Business
£40000 - £50000 per annum + pro rata: SThree: SThree Group have been well esta...
£30000 - £37000 per annum: Recruitment Genius: Established in 1999, a highly r...
£250-£300 Day Rate: Jemma Gent: Are you a qualified accountant with strong exp...
£230 - £260 Day Rate: Jemma Gent: Do you want to stamp your footprint in histo...