Cineworld profit rises on strong box office revenue

Cineworld Group’s pre-tax profit rose 24.1 per cent as the British cinema chain sold more tickets at higher prices.

The UK’s largest cinema operator by market share said pretax profit for the 26 weeks ended June 27th rose to £16.5 million (€19.3 million) from £13.3 million a year earlier.

The company last month reported a 21.9 per cent rise in first-half group revenue due to a growth in the average ticket price and an increase in admission levels.

Cineworld, which runs more than 80 sites across Britain and Ireland, said trading was ahead of last year but added that it will have a comparatively tougher fourth quarter this year due to the success of Skyfall last year.

Skyfall - the latest in the Bond spy film series - was the highest grossing film of all time at the British box office earning around £103 million in the UK. (Reuters)