Tuesday, November 16, 2010

UPDATE 1-Cineworld 42-week sales up as 3D movies lure audiences - Movies

* Sees FY at least in line with market view
* Box office sales for 42 weeks to Oct 21 up 8.3 pct
(Adds details)
Oct 26 (Reuters) - Cineworld Group Plc (CINE.L) said on
Tuesday its total revenue grew 8.5 percent in the 42 weeks to
Oct. 21 as 3D movies attracted audiences despite pressure on
consumer spending.
The British cinema chain said the second half had a number
of successful releases, including "Shrek Forever After (3D)",
"The Twilight Saga: Eclipse" and "Toy Story 3" (3D), which was
the biggest film release of the year to date according to
research firm Rentrak.
"The higher number of admissions since the half year end
(June 30) has helped to increase retail revenues in what
remains a challenging consumer environment," Cineworld said in
a statement.
The company also said it was confident of continued growth
for the full year at least in line with market expectations on
a promising line up, including "Harry Potter: Deathly Hallows
1".
In August, Cineworld had posted a nearly flat first-half
pretax profit as it lost some audience to the soccer World Cup,
but said it started the second half strongly with a string of
blockbusters and 3D films.
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