Cineplex Q1 loss narrows compared with a year ago, revenue up nearly 50%
By The Canadian Press on May 12, 2023.
TORONTO – Cineplex Inc. saw its first-quarter loss narrow compared with a year ago as its revenue increased nearly 50 per cent. The movie theatre company says it lost $30.2 million or 48 cents per diluted share for the quarter ended March 31. The result compared with a loss of $42.2 million or 67 cents per diluted share a year ago. Revenue totalled $341.0 million, up from $228.7 million in the first three months of 2022. The increase in revenue came as theatre attendance totalled nearly 9.8 million, up from nearly 6.7 million in the same quarter last year. Cineplex says box office revenue per patron was $12.63, up from $12.00 a year earlier, while concession revenue per patron also rose to $8.85, up from $8.82 a year ago. This report by The Canadian Press was first published May 12, 2023. Companies in this story: (TSX:CGX) 9-8
