Belfast Telegraph

You Beauty! Cineworld profits surge 57.5%

Blockbusters such as Beauty And The Beast and a refurbishment programme helped profits surge at Cineworld in the first half.

The cinema chain saw revenue rise 17.8% to £420.2 million in the six months to June 30, while pre-tax profit increased 57.5% to £48.2 million.

Admissions rose 10% to more than 50 million as Cineworld said customers had "embraced" revamps aimed at creating "better sightlines, bigger screens, better sound and great comfort".

The top three films on the slate - Beauty And The Beast, Guardians Of The Galaxy Vol 2 and The Fate Of The Furious - together grossed £143 million.

The three biggest titles in the first half of last year - The Jungle Book, Deadpool and Captain America: Civil War - grossed £120 million.

Cineworld boss Mooky Greidinger said: "I believe that the six months results clearly reflect our strategy and a good quality of film slate.

"Our strategy is based on our strong belief in the cinema experience, emphasising our efforts on creating our cinemas in a way that will give our customers 'the best way to watch a movie'."

The firm is also encouraged by the calibre of films in the second half, which have so far included Dunkirk, Despicable Me 3 and Spider-Man: Homecoming.

Releases still to come in 2017 include Star Wars: Episode VIII.

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