Cineworld, operator of over 80 cinema sites in the UK and Ireland, saw its half-year pre-tax profits reach £16.5m, fuelled by increased ticket prices, the release of box office successes and its acquisition of Picturehouse.
The core Cineworld business saw a 10.5 per cent rise in revenue and sold 24.3m tickets, representing a 1.3m increase when compared to the same period last year. Ticket prices have also risen, with the average ticket price now costing consumers £5.39.
The company also acquired Picturehouse last December. When the acquisition of Picturehouse is taken into consideration overall revenues rose by 21.9 per cent to £201.6m, bringing profit before tax to £16.5m, an increase of 24.1 per cent on previous figures.
