Mixed bag: Admissions down but revenues bounce

Britain’s only listed cinema operator has seen higher ticket prices offset a decline in admissions in the first half of its financial year.

Cineworld, which has 79 cinemas and 811 screens, saw admissions fall 0.8 per cent but box office revenues rose 4.1 per cent in the 26 weeks to 28 June as it bumped up price.

Other income – which includes cinema advertising and sale of 3D glasses – slid 18.7 per cent, while its market share dipped to 24.7 per cent from 24.9 per cent in the period, figures yesterday revealed.

While the timing of the Olympics is expected to hit the business, the group said a strong film schedule including The Amazing Spider-man, The Hobbit and the next instalment in the Batman franchise The Dark Knight Rises, should boost trade in the coming months.

Investec analyst Steve Liechti said the shares were worth buying as “history suggests cinema admissions are relatively defensive”.