February 28th, 2024

Cineplex reports $9M Q4 loss, revenue up from year ago

By The Canadian Press on February 8, 2024.

TORONTO – Cineplex Inc. reported a fourth-quarter loss $9 million compared with a profit of $10.2 million a year earlier as its revenue edged higher.

The movie theatre company says the loss amounted to 14 cents per diluted share for the quarter ended Dec. 31 compared with a profit of 16 cents per diluted share a year earlier.

Revenue for the quarter totalled $315.1 million, up from $309.9 million in the last three months of 2022.

The increase in revenue came as theatre attendance rose to 9.6 million patrons compared with 9.2 million a year earlier.

Box office revenue per patron was $12.90, down from $13.06 a year earlier, while concession revenue per patron was $9.28, up from $8.93 in the same quarter in 2022.

Cineplex also announced a refinancing plan it says will improve its financial flexibility and reduce the dilutive impact of its convertible debentures.

This report by The Canadian Press was first published Feb. 8, 2024.

Companies in this story: (TSX:CGX)

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