LONDON (Alliance News) - Everyman Media Group PLC Monday said it turned to profit in 2014 as revenue rose on the back of higher admissions and a better spend per head in its cinemas, and the company said it has appointed a new finance director.
Everyman said it made a pretax profit of GBP266,000 in 2014, compared with a GBP781,000 loss in 2013, as revenue increased 22% to GBP14.1 million from GBP11.5 million, boosted by a 5% rise in admissions year-on-year to 808,316 from 771,323 and a 19% rise in spend-per-head to GBP15.54 from GBP13.07.
The company said it is well-positioned to continue its expansion plans, with a new site at the Mailbox centre in Birmingham opened in February this year and a further site in Canary Wharf due to open in mid-2015. It has also exchanged contracts on three further sites, in Bristol, Harrogate and Cirencester, and is in talks to open further sites.
It added the film release slate for 2015 looks "encouraging".
In a separate statement on Monday, Everyman also said it has appointed Jonathan Peters as its finance director with immediate effect.
Peters, aged 45, qualified as a chartered accountant with BDO Stoy Hayward in 1995 and has since held a number of finance positions at companies including Belron, Whirlpool Corp, Equifax and Marks & Spencer.
Shares in Everyman were untraded on Monday, having last traded at 94.40 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance and Steve McGrath; stevemcgrath@alliancenews.com; @stevemcgrath1
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Everyman Media (EMAN)