Cineplex posts record results for Q4 2012

New theatres and Hollywood releases helped the exhibition giant take advantage of record attendance at its cinemas in 2012.
money

Cineplex posted record earnings in 2012, thanks to record theatre attendance and a slate of Hollywood blockbuster releases.

Toronto-based Cineplex posted earnings up 200% to $32.7 million for the three months to December 31, 2012, on total revenue up 23.6 percent to $298.7 million.

“2012 was the best year on record for Cineplex,” president and CEO Ellis Jacob said in a statement Thursday.

Theatre attendance reached a new all-time high of 71.2 million, an increase of 7.8%, against 2011, the exhibitor reported.

Hollywood releases like Skyfall and The Hobbit: An Unexpected Journey, pushed up box office during the latest quarter, as did premium pricing for 3D titles.

Cineplex also added new theatres of its own, in addition to recently acquiring four AMC theatres.

The chain also completed the rollout of digital projection technology, and added 16 UltraAVX auditoriums to bring its total to 39.