Sign In
18 Nov 2014 07:00
CINEWORLD GROUP PLC Trading Statement
Cineworld Group plc is pleased to provide the following update on trading performance for the 46 week period from 27 December 2013 to 13 November 2014.
Revenues for the period were as follows:
% change vs. same period 20131 | ||||||||
46 WEEKS TO 13 NOVEMBER 2014 | ||||||||
Cineworld Group pro forma2 | UK & Ireland | CEE3 & Israel pro forma2 | ||||||
Total Revenues | + 1.1% | + 0.7% | + 1.8% | |||||
Box Office | + 0.7% | - 0.1% | + 2.2% | |||||
Retail | + 2.3% | + 1.3% | + 4.2% | |||||
Other Income | + 1.4% | + 6.7% | - 2.3% | |||||
1 % change vs. prior year for CEE & Israel presented on a constant currency basis. 2 Where relevant, pro forma basis reflects the year on year performance of Cinema City which became part of the Cineworld Group on 28 February 2014.3 CEE is defined as Central and Eastern Europe and includes Poland, Hungary, Romania, Czech Republic, Bulgaria and Slovakia.
Overall, on a pro forma basis, trading for the Group for the 46 week period has been in line with our expectations. Although admissions have decreased by 0.9%, mainly due to the phasing of film releases in the UK, box office revenues have increased by 0.7% driven by admission growth in CEE & Israel and a stronger average ticket price during the period across the Group. Retail revenues increased by 2.3%. Other Income includes screen advertising, sponsorship and film distribution income and increased by 1.4% benefiting from solid advertising revenues, particularly in the UK & Ireland. This was offset by a decline in Other Income in CEE & Israel which was attributable to the phasing of distribution income, which this year is heavily weighted to the films at the end of the year, excluding which Other Income in the region increased by 2.8%.
Looking ahead to the full year, the film line up for the remainder of Q4 is promising with strong box office performances expected from "The Hunger Games: Mockingjay - Part 1" and "The Hobbit: The Battle of the Five Armies". The releases in the remainder of Q4 are comparable with the prior year. In light of this and our trading performance to date, the Board remains confident of delivering results in line with market expectations for the full year.
Contacts
For further information:
Cineworld Group plc | 020 8987 5000 | Bell Pottinger | 020 3772 2579 | |
Philip Bowcock
| Elly Williamson Charlie Harrison
| |||
Notes to editors
About Cineworld Group plc
Cineworld Group plc was founded in 1995 and listed its shares on the London Stock Exchange in May 2007.
The company has grown organically and by acquisition to become one of the leading cinema Groups in Europe with the number one or number two position by number of screens in each of its regions. Cineworld currently operates 1,880 screens across 205 sites in the UK and Ireland, Poland, the Czech Republic, Slovakia, Hungary, Bulgaria, Romania and Israel.
- Ends -
Follow the stocks
