NEWS
02/22/2018 02:11 EST | Updated 02/22/2018 02:20 EST

Concession stand demand helps boost fourth-quarter profit at Cineplex Inc.

TORONTO — Cineplex Inc. reported a fourth-quarter profit of $28.8 million, up from $23.3 million a year earlier, boosted by improved results at the concession stand.

The movie theatre company says the profit amounted to 45 cents per diluted share for the quarter ended Dec. 31, up from 37 cents per diluted share in the last three months of 2016.

Revenue totalled $426.3 million, up from $385.4 million.

The increase came as concession revenue per patron grew to a record $6.29 compared with $5.75 a year earlier.

Meanwhile, box office revenue per patron increased to $10.54 compared with $10.23.

Attendance during the quarter slipped 2.1 per cent to 17.6 million people compared with 17.9 million in the fourth quarter of 2016.

 

 

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