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Cineplex posts strongest quarterly outcomes since COVID pandemic started

Cineplex posts strongest quarterly outcomes since COVID pandemic started

TORONTO — Cineplex Inc. says it generated optimistic internet earnings for the primary time because the begin of the pandemic.

The film theatre firm says internet earnings amounted to $1.3 million or two cents per share for the quarter ended June 30 in contrast with a lack of $103.7 million or $1.64 per share a yr earlier.

Income totalled $349.9 million, up from $64.9 million the prior yr.

Cineplex says theatre attendance within the quarter totalled 11.1 million in contrast with 1.1 million in the identical quarter final yr when it was nonetheless dealing with pandemic-related restrictions.

Learn extra:

Cineplex introduces $1.50 reserving price for on-line film ticket purchases

Field workplace income per patron was $12.29 within the second quarter, in contrast with $10.89 a yr in the past, whereas concession income per patron was $8.84, up from $7.86 in the identical quarter final yr.

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Prime Gun: Maverick, Physician Unusual within the Multiverse of Insanity and Jurassic World Dominion have been Cineplex’s high movies within the quarter and CEO Ellis Jacob stated in a launch that the cumulative success of those movies “is a testomony to the truth that when robust movie product is out there, Canadians return to (the corporate’s) theatres in droves.”

This report by The Canadian Press was first revealed Aug. 11, 2022.

© 2022 The Canadian Press

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