Cineplex reports $10.2M Q4 profit compared with $21.8M loss a year earlier

By The Canadian Press on February 7, 2023.

TORONTO – Cineplex Inc. reported a profit of $10.2 million in its fourth quarter compared with a loss of $21.8 million a year earlier as its revenue increased more than 15 per cent.

The movie theatre company says its net profit amounted to 16 cents per diluted share for the quarter ended Dec. 31 compared with a loss of 34 cents per share in the last three months of 2021.

Revenue totalled $350.1 million, up from $300.0 million a year earlier.

Theatre attendance totalled 9.2 million customers, down from 10.2 million in the fourth quarter of 2021.

However, Cineplex says it saw record box office revenue per patron and record concession revenue per patron for the quarter.

Box office revenue per patron was $13.06 in the fourth quarter, up from $12.29 in the fourth quarter of 2021, while concession revenue per patrol rose to $8.93 compared with $7.49 a year earlier.

This report by The Canadian Press was first published Feb. 7, 2023.

Companies in this story: (TSX:CGX)

9
-8