Everyman, the boutique cinema chain, swung into profit in the first half of the year as the it signalled plans for further expansion.
The group, which currently operates 21 cinemas, saw revenue rise 55% to £18.8m in the six months to 29 June 2017, while profit stood at £438k compared to a £670k loss in the same period last year.
EBITDA for the period more than doubled from £1.3m to £3m.
It said that trading since the period end had continued in line with expectations, which was reflective of a “reasonable overall summer in the cinema market”.
The company said it was committed to a further nine new sites plus a permanent site at Kings Cross, and had a strong pipeline established for future years, including a new venue in Glasgow to be opened in 2018.
Chairman Paul Wise said: “Everyman differentiates by focusing on delivering a high-quality offer, through its venues, content, staff and F&B. The board’s long held belief in this model as being the bedrock for significant growth within the UK has been further strengthened in the last six months and our ambitions continue to grow.”
