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.

Just Posted

Nelson councillor starts national municipal climate group

Climate Leadership Caucus has 57 members including seven mayors

RDCK to purchase portion of lands around Cottonwood Lake

21.6 hectares will be purchased for $450,000

COLUMN: Helping my father keep his dignity as he was dying

Nelson teacher Robyn Sheppard reflects on the life and death of her father

Nelson presents proposed 2019 budget with undecided tax increase

Further details will be available after a council meeting in April.

Nelson to get legal opinion on right-to-life street banner

Does the Nelson Right to Life banner violate the Charter of Rights?

Truck driver in fatal Broncos crash sentenced to eight years

Judge Inez Cardinal told court in Melfort, Sask., that Sidhu’s remorse and guilty plea were mitigating factors

Fierce feline spotted as ‘aggressor’ in face off with coyote in B.C. backyard

North Vancouver resident Norm Lee captures orange cat versus coyote in backyard showdown

Wilson-Raybould to reveal more details, documents on SNC-Lavalin affair

Former attorney general has written to the House of Commons justice committee

Anti-discrimination group wants to map offenders with cross-Canada hate atlas

Morgane Oger Foundation issues call for volunteers to help build Canadian Atlas of Populist Extremism

Kater to launch ridesharing service in Vancouver by end of month

The Surrey-based company got its permits from the Vancouver Taxi Association

Second case of measles reported in the B.C. Interior

Case is connected to an earlier measles case in 100 Mile House

Cheetahs will not prosper in Creston: Permit rejected for two big cats

Earl Pfeifer owns two cheetahs, one of which escaped in December 2015

GM announces jobs, electric vehicle after Trump criticism

The company says it will spend $300 million at its plant in Orion Township

Most Read