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3 Jul 2014 07:00
CINEWORLD GROUP PLCTrading Update
Cineworld Group plc (the "Group") is due to publish its interim results for the 26 weeks ended 26 June 2014 on 14 August 2014. At the start of its close period, the Group announces the following trading update.
Revenues for the 26 weeks to 26 June 2014 were as follows:
Cineworld Group % change vs. prior year | UK & Ireland % change vs. prior year | CEE(1) & Israel pro forma(2) % change vs. prior year(3) | |
Total revenues | +33.2% | +0.1% | +4.0% |
Box Office | +27.1% | - 0.6% | +6.0% |
Retail | +32.9% | +1.4% | +8.0% |
Other Income | +93.5% | +3.2% | - 6.1% |
(1) CEE is defined as Central and Eastern Europe and includes Poland, Hungary, Romania, Czech Republic, Bulgaria and Slovakia.(2) Where relevant, pro forma basis reflects the 26 week year on year performance of Cinema City which became part of the Cineworld World group on 28 February 2014.(3) % change vs. prior year for CEE & Israel presented on a constant currency basis. Where relevant, % set out below are presented on an actual currency basis.
Overall, on a pro forma basis, trading for the Group for the 26 week period has been in line with our expectations. Box office revenues have increased by 1.5% and admissions have increased by 1.0%. Retail spend per person increased by 2.6%. Other Income includes screen advertising, sponsorship and film distribution income. There was a 2.5% decline in Other Income which was attributable to phasing of distribution incomes, excluding which Other Income increased by 3.2%.In the final weeks of the half, as expected, admissions in certain countries have been lower due to the World Cup when compared to the same prior year period, which has contributed to a decline in Box Office revenues; however there is a strong film line-up during Q3 and Q4 which is expected to mitigate this. New releases at the start of Q3 include the latest title from the Transformers franchise "Transformers: Age of Extinction" and the new Marvel film "Guardians of the Galaxy". Taking into account the strength of film line up in the second half, we are on track with our plans for the year as a whole.
Contacts
Philip Bowcock +44 (0) 20 8987 5008 Elly Williamson +44 (0) 20 7861 2840Chief Financial Officer Associate PartnerCineworld Group plc Bell Pottinger
Notes to editors
About Cineworld Group plcCineworld 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 1858 screens across 202 sites in the UK and Ireland, Poland, the Czech Republic, Slovakia, Hungary, Bulgaria, Romania and Israel.
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