Cineplex profit falls as theatre attendance declines

The Toronto-based entertainment company says the profit amounted to 43 cents per share

Cineplex Inc. says it had $27.2 million of net income in the fourth quarter, down from $28.8 million a year earlier, as attendance at its theatres declined.

The Toronto-based entertainment company says the profit amounted to 43 cents per share, down from 45 cents per diluted share in fourth quarter of 2017.

On an adjusted basis, Cineplex profit fell to 43 cents per share from 46 cents per share — missing analyst estimates

Attendance at Cineplex theatres was down 3.2 per cent from a year earlier but box office revenue per patron was up, as was concession revenue per patron.

READ MORE: Cineplex to deliver popcorn and movie snacks, but only in Vancouver

Revenue was up less than a percentage point year over year, at $428.2 million in the fourth quarter of 2018 and $426.3 million in the comparable period of 2017.

Analysts had estimated 48 cents per share of adjusted earnings and $426.6 million of revenue, according to Thomson Reuters Eikon.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

Qualicum man sentenced for tying up, robbing another man

Gabriel Stephen Nelson robbed and assaulted travelling businessman in 2017

Parksville man ‘parks’ horse during liquor store pit stop

As long as animal wasn’t jaywalking, no problem, says city official

Parksville roundtable highlights need for affordable housing, recreation

Mayor Ed Mayne held facilitated event in January to hear visions for city, council

RDN to form new group to replace Northern committees

Recreation commissioners disappointed with the decision

Second delivery of building units for 222 Corfield in Parksville arrives March 21

Vehicles should expect intermittent single-lane alternating traffic

VIDEO: Can you believe it? This B.C. hill pulls cars backwards up a slope

Sir Isaac Newton had clearly never been to this Vernon anomaly when he discovered gravity

European, Canadian regulators to do own review of Boeing jet

Air Canada plans to remove the Boeing 737 Max from its schedule at least through July 1

Prime minister defends Liberal budget measures as sales effort gets underway

Conservatives under Andrew Scheer say it’s a spree funded by borrowing against the future

Mayor meets with B.C. health minister on homeless taxi transfers

Two homeless people were discharged from Surrey Memorial and sent to a Chilliwack shelter

B.C. lottery winner being sued by co-workers

They claim he owes them $200,000 each, in a lawsuit filed in B.C. Supreme Court in Vancouver

Teacher reprimanded for conduct towards special needs student

Alan Stephen Berry told vice principal he did not have time to use positive strategies

‘Full worm super moon’ to illuminate B.C. skies on first day of spring

Spring has sprung, a moon named in honour of thawing soil marks final super moon until 2020

Having phone within sight while driving does not violate law: B.C. judge

The mere presence of a cell phone within sight of a driver is not enough for a conviction, judge says

Woman punched on the sidelines of B.C. soccer game

Both involved were watching the U21 game in West Vancouver from the sidelines when things got heated

Most Read