Cineworld profits slide despite superhero sales boost

A sales boost from Captain America and friends could not lift profits at Cineworld. Picture: Film Frame/Marvel
A sales boost from Captain America and friends could not lift profits at Cineworld. Picture: Film Frame/Marvel
Share this article
2
Have your say

Captain America was not enough to save profits at Cineworld from taking a dive in the first half after the chain took a hit from adverse currency movements.

Pre-tax profits fell 34.6 per cent to £30.6 million after currency fluctuations cost the group £6.1m. However, a line-up that included Deadpool and Captain America: Civil War helped revenue rise 8.4 per cent to £356.7m.

Chief executive Mooky Greidinger said: “The results for the first half of the year are in line with our expectations.

“We have achieved growth in admissions, box office revenue, and retail sales, with a particularly strong performance in our rest of the world segment, achieving double-digit growth in admissions.”

READ MORE: Cineworld buys Cameo owner Picturehouse for £47.3m

He added that a strong roster of films in the second half of the year, including The BFG, Star Trek Beyond and Bridget Jones’s Baby, are expected to help it achieve full-year hopes.

Click here to ‘Like’ The Scotsman Business on Facebook