Cineworld gets lift from superheroes and Lego

Cinema operator Cineworld today reported a jump in half-year profits, helped by strong box-office performances for the Lego movie and the latest instalments in the Spider-Man and X-Men franchise.

The group, which completed its merger with central and eastern European-focused peer Cinema City in February, posted an adjusted pre-tax profit of £25.3 million for the six months to 26 June, up from £17.3m a year earlier, on group revenues 33.3 per cent higher at £268.6m

Chief executive Moshe Greidinger said: “Film performance for the first half of the year was underpinned by the success of The Lego Movie, X-Men: Days of Future Past and The Amazing Spider-Man 2, all of which grossed over £24m in the UK and Ireland.”

Greidinger added that Cineworld’s management team is now targeting annual £5m of cost savings through the combination with Cinema City, up from the previous target of £2m that has already been hit.