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

FOCUS: Federal election campaign heating up in Surrey

Lazy days of summer interrupted by knocks on residents’ doors by incumbents, would-be MPs in pursuit of votes

VIDEO: White Rock’s Totem Park renaming motion to be reconsidered

1999 commemorative ceremony video shows ‘historic’ apology from RCMP to First Nations

South Surrey girl aims to make waves for ocean change, one ripple at a time

‘I know I can make a difference,’ says Shelby Hack

Surrey survey details new sports stadium planned at Bear Creek Park

The proposed facility ‘will upgrade an existing track and sports field to international standards’

Surrey mayor dissolves public safety committee, creates one for police transition

Locke slams the move, saying who McCallum appoints to the committee will be ‘a very large tell’

VIDEO: Bloodhounds join the search for missing Chilliwack woman with dementia

Petsearchers Canada arrive in town Monday afternoon to help out

B.C. on right road with tougher ride-hailing driver rules, says expert

The provincial government is holding firm that ride-hailing drivers have a Class 4 licence

B.C. Ferries cancels two sailings Monday due to mechanical issues

Tsawwassen to Swartz Bay run affected in order to repair Queen of New Westminster

RCMP investigating alleged ‘sexual misconduct’ by cyclist on BCIT campus

BCIT said they were reviewing video evidence of the incident

New home cost dips in B.C.’s large urban centres

Victoria, Kelowna, Vancouver prices decline from last year

Graphic suicide scene edited out of ‘13 Reasons Why’ finale

Suicide prevention groups support the decision

Nine kittens and cats rescued after being locked in bins in northern B.C.: SPCA

SPCA says cats were starving, and matted with feces and urine

Woman grabbed, followed on trail near SFU campus: Burnaby RCMP

The woman told police a man was following and tried to talk to her

High-speed rail link would run from Vancouver to Seattle in under 1 hour: study

Annual ridership is projected to exceed three million

Most Read