LONDON (Alliance News) - Everyman Media Group PLC on Monday said it performed in line with expectations in the first six months of 2016, and expects a "significant increase in the financial performance" due to new sites it opened.
The cinema operator opened a new site in Bristol in the first half, taking the size of its total estate to 17 cinemas. Of the four Odeon sites acquired in 2015, Esher, Gerrards Cross and Barnet have now been fully refurbished and are all trading well, Everyman said, while the venue in Muswell Hill has just received listed building consent allowing works to commence on the final stage of its refurbishment.
Everyman recently exchanged contracts on venues at Horsham, Durham and Wokingham, and will open a one-screen temporary venue at Kings Cross on Friday in the run-up to the opening of a three-screen venue in late 2017.
"In summary, the group has performed in line with market expectations in the first six months of 2016 and, due to new sites, a significant increase in the financial performance of the group year-on-year is expected," Everyman said in a statement.
Shares in Everyman were untraded on Monday, last quoted at 83.50 pence.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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Everyman Media (EMAN)