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.

February 08, 2024
7 Articles

Further Reading