Cineworld has reported retail revenues at its UK & Ireland cinemas up 11.3% to £107.2m for the year to 31 December with food and drink now accounting for 23% of total income.
The group, which unveiled Dean Moore as its interim chief financial officer for the next 12 months, said net retail spend per person increased by 8.4% in the period to £2.11, which it said was partly due to the film mix but also reflected the expansion of the retail offer, strong promotions, growth in its Unlimited customer base and operational improvements.
The company opened a further four Starbucks outlets during the period taking its total circuit to 17 at 31 December 2015 with a number of further openings scheduled for 2016. Also, in December it opened its first VIP offering in Sheffield and plans to open additional sites “where we believe there is the appropriate market opportunity”
Box offices revenues in the UK were up 11.4% in the period giving overall revenue growth of 12.7% on a 52 week v 52 week basis, while global revenue was up 12.4% on the same basis.
Mooky Greidinger, chief executive Officer of Cineworld Group, said: “We are pleased to announce 2015 was another record year for the Cineworld Group and its shareholders. Revenues continued to grow as more than 93 million customers came through our doors and enjoyed the movies we showed. Our strong financial performance was driven by improved efficiencies throughout the business and the cost savings achieved following the successful integration of the two Groups. In addition, we opened a record number of 18 new sites during 2015. The film slate was strong with a number of blockbusters- “Jurassic World”, “Spectre” and “Star Wars: The Force Awakens” being the most significant.
“Our vision continues to be “The Best Place to Watch a Movie” and we look forward to 2016 with optimism, which has a promising film slate and will see us open another 13 sites across four territories.”
Cineworld has reported retail revenues at its UK & Ireland cinemas up 11.3% to £107.2m for the year to 31 December with food and drink now accounting for 23% of total income.
The group, which unveiled ####### , said net retail spend per person increased by 8.4% in the period to £2.11, which it said was partly due to the film mix but also reflected the expansion of the retail offer, strong promotions, growth in its Unlimited customer base and operational improvements.
The company opened a further four Starbucks outlets during the period taking its total circuit to 17 at 31 December 2015 with a number of further openings scheduled for 2016. Also, in December it opened its first VIP offering in Sheffield and plans to open additional sites “where we believe there is the appropriate market opportunity”
Box offices revenues in the UK were up 11.4% in the period giving overall revenue growth of 12.7% on a 52 week v 52 week basis, while global revenue was up 12.4% on the same basis.
Mooky Greidinger, chief executive Officer of Cineworld Group, said: “We are pleased to announce 2015 was another record year for the Cineworld Group and its shareholders. Revenues continued to grow as more than 93 million customers came through our doors and enjoyed the movies we showed. Our strong financial performance was driven by improved efficiencies throughout the business and the cost savings achieved following the successful integration of the two Groups. In addition, we opened a record number of 18 new sites during 2015. The film slate was strong with a number of blockbusters- “Jurassic World”, “Spectre” and “Star Wars: The Force Awakens” being the most significant.
“Our vision continues to be “The Best Place to Watch a Movie” and we look forward to 2016 with optimism, which has a promising film slate and will see us open another 13 sites across four territories.”
