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Cineworld hails Avatar effect
Tue, 07 Feb, 2012
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Cineworld hails Avatar effect
Thu, 11 Mar 2010, 08:25:00
Cinema operator <b>Cineworld</b> saluted the success of 3D films such as Avatar in drawing crowds to the cinema as it posted a rise in sales and profits. In the 53 weeks to December 31, pre-tax profits rose to £30.8m from £27.6m over the previous period as revenues rose to £333.4m from £298.9m. On a pro-rated 52 week basis, admissions were up by 8.9% to 49.1m, with new openings at Aberdeen and Witney helping increase turnover. Average ticket prices rose to £4.71 from £4.38. 'Current 3D technology, which has advanced immeasurably since the much derided technology of past, was quickly accepted by cinema goers and, I believe, has ushered in a new era for the cinema industry,' said chairman Anthony Bloom. Chief executive Stephen Wiener said the new year had started well for the group, with some carry over from Avatar. 'With an exciting film release schedule in 2010, we are confident of the prospects for the business in the forthcoming year,' he said.
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