Cineplex second quarter earnings and revenue rise

More theatres and a mix of Hollywood blockbusters (pictured: Star Trek Into Darkness) helped the exhibitor post a record quarter in total revenue.
Star Trek

Cineplex on Thursday posted higher second quarter earnings and revenue as the Canadian exhibitor continues to bank on premium theatres to show 3D movies and a dominant Hollywood movie slate.

Cineplex posted a profit up 31% to $28.5 million, against a year-earlier $21 million, on revenue up 14% to $301 million.

The profit jump came from a blend of more theatres after the acquisition of four AMC venues and a mix of Hollywood movie performers like Iron Man 3, Star Trek: Into Darkness (picutured) and Man of Steel.

Last year’s Q2 movie slate was dominated by Marvel’s The Avengers.

“It was a record quarter for Cineplex,” said Ellis Jacob, president and CEO of Cineplex, in a statement, as new high-water marks were set for total revenue.

“Increased attendance resulting from strong film product during the period and increased revenues generated from concession, box office and media, all contributed to the tremendous gains in adjusted EBITDA,” he added.

Concession revenue was also strong for the exhibitor as it pulled in an average $9.36 per patron, up 36% from last year.

Photo: Paramount Pictures