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Canadian movie theatre company Cineplex Inc. reports Q4 loss of $9M, yet revenue rises to $315.1M due to increased theatre attendance, despite box office per patron decrease.
Cineplex Inc., a Canadian movie theatre company, reported a Q4 loss of $9 million, significantly down from a profit of $10.2 million in the same period the previous year.
However, the company's revenue increased to $315.1 million from $309.9 million in the last three months of 2022.
The rise in revenue was due to an increase in theatre attendance, reaching 9.6 million patrons compared to 9.2 million a year earlier.
Box office revenue per patron was $12.90, down from $13.06 the previous year, while concession revenue per patron increased to $9.28 from $8.93 in the same period in 2022.
In addition, Cineplex announced a refinancing plan to improve its financial flexibility and reduce the dilutive impact of its convertible debentures.
La compañía canadiense de salas de cine Cineplex Inc. informa una pérdida de 9 millones de dólares en el cuarto trimestre, pero los ingresos aumentan a 315,1 millones de dólares debido al aumento de la asistencia a las salas, a pesar de la disminución de la taquilla por cliente.