Cineplex profit falls as theatre attendance declines

The Toronto-based entertainment company says the profit amounted to 43 cents per share

Cineplex Inc. says it had $27.2 million of net income in the fourth quarter, down from $28.8 million a year earlier, as attendance at its theatres declined.

The Toronto-based entertainment company says the profit amounted to 43 cents per share, down from 45 cents per diluted share in fourth quarter of 2017.

On an adjusted basis, Cineplex profit fell to 43 cents per share from 46 cents per share — missing analyst estimates

Attendance at Cineplex theatres was down 3.2 per cent from a year earlier but box office revenue per patron was up, as was concession revenue per patron.

READ MORE: Cineplex to deliver popcorn and movie snacks, but only in Vancouver

Revenue was up less than a percentage point year over year, at $428.2 million in the fourth quarter of 2018 and $426.3 million in the comparable period of 2017.

Analysts had estimated 48 cents per share of adjusted earnings and $426.6 million of revenue, according to Thomson Reuters Eikon.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Commercial plaza proposed for Rocky Creek and Ludlow intersection

Town Council directed the application proceed for further consideration

Symphony pop-up concerts coming to Saltair

Only 40 tickets available so get them soon if you’re interested

South Wellington Elementary demolition not taking place next school year

Nanaimo Ladysmith Public School trustees vote against razing south-end school in 2020/21

One piper piping during the pandemic

Tribute to health care workers reaches the 100th performance

Town of Ladysmith receives $3.3 million grant for Arts & Heritage Hub

The funds will go to creating artist studios around the Machine Shop and maintaining heritage assets

B.C. sees 25 new COVID-19 cases, community exposure tracked

One death, outbreaks remain in two long-term care facilities

Facing changes together: Your community, your journalists

We’re asking you to lock arms with us, as we look to better days ahead

Shellfish industry get funds to clean up at Island sites and beyond

Businesses can apply to cover half of costs to clean up so-called ‘ghost gear’

BREAKING: Amber Alert for two Quebec girls cancelled after bodies found

Romy Carpentier, 6, Norah Carpentier, 11, and their father, Martin Carpentier, missing since Wednesday

B.C. man prepares to be first to receive double-hand transplant in Canada

After the surgery, transplant patients face a long recovery

Grocers appear before MPs to explain decision to cut pandemic pay

Executives from three of Canada’s largest grocery chains have defended their decision to end temporary wage increases

RCMP ‘disappointed’ by talk that race a factor in quiet Rideau Hall arrest

Corey Hurren, who is from Manitoba, is facing 22 charges

NHL’s Canadian hubs offer little economic benefit, but morale boost is valuable: experts

Games are slated to start Aug. 1 with six Canadian teams qualifying for the 24-team resumption of play

‘Made in the Cowichan Valley’ coming to a wine bottle near you

Cowichan Valley has the honour of being the first sub-GI outside of the Okanagan

Most Read