Cineplex reports $103.7M loss despite rise in revenue as theatres reopened in Q2

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By Staff The Canadian Press

Posted August 12, 2021 9:39 am

Updated August 12, 2021 9:45 am

 'Cineplex hopes to lure backmost  moviegoers with caller   club' 1:46 Cineplex hopes to lure backmost moviegoers with caller club

Entertainment companies are looking for ways to get moviegoers backmost into theatres, aft the pandemic kept radical astatine home. Ross Lord reports connected the caller nine that Cineplex, Canada's largest cinema chain, is launching.

Cineplex Inc. mislaid $103.7 cardinal successful its 2nd 4th arsenic it was capable to unfastened much theatres arsenic provinces began to trim mandatory closures and easiness capableness restrictions.

CEO Ellis Jacob says that arsenic of July 17 each of the company’s theatres and amusement venues were open.

The movie theatre institution says the nonaccomplishment amounted to $1.64 per diluted stock for the 4th ended June 30 compared with a nonaccomplishment of $98.9 cardinal oregon $1.56 per diluted stock a twelvemonth ago.

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Revenue was $64.9 million, up from $22 cardinal successful the aforesaid 4th past year.

The wide summation came arsenic container bureau gross totalled $12.5 cardinal successful the 4th compared with a nominal magnitude a twelvemonth agone erstwhile the institution had conscionable six theatres unfastened successful Alberta successful June 2020. Food work gross climbed to astir $13.3 million, up from astir $3.3 cardinal a twelvemonth ago.

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Meanwhile, media gross roseate to $9.4 cardinal compared with $8.1 cardinal successful the aforesaid 4th past year, portion amusement gross accrued to $22.2 million, up from $3.7 million. Other gross accrued to $7.6 cardinal from $7.1 cardinal a twelvemonth ago.

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