Everyman Media Share News (EMAN)

(Sharecast News) - Premium cinema group Everyman Media reported a rise in interim revenue but a drop in pre-tax profit on Tuesday as it expanded its estate.
In the 26 weeks to 4 July, revenue increased 16% to £28.9m and adjusted earnings before interest, tax, depreciation and amortisation were 61% higher at £6.6m as admissions pushed up 9.4% to 1.5m.

However, pre-tax profit fell to £445,000 from £1.4m the year before on the back of rising interest costs related to the company's expansion.

Two new venues were added during the half, in Horsham and Newcastle, taking the current estate to 28 venues and 92 screens and the group's market share reached a record 3%.

Chief executive officer Crispin Lilly said: "The appetite for Everyman has never been stronger with our continued roll-out allowing us to deliver exceptional experiences to more audiences across the UK with our increasing footprint.

As a result, we have seen progress across both our financial and operational KPIs, with growth in revenue and operating profit driven by increasing admissions and F&B spend. This has resulted in the record market share we are reporting today."

Everyman said its "ambitious" rollout plan continues in the UK, while its first international site is due to open in Ireland next year.

"We are confident that there is significant room for expansion. We look forward to delivering our proven model to additional communities in both countries in the current period and beyond," Lilly said.

At 1215 BST, the shares were up 1.7% at 185p.