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

Port Hardy RCMP looking for volunteers who are interested in public safety

“The volunteer program will include community and crime prevention programs”

Suspicious fire in Alert Bay burns two homes, spreads to nearby bush

Police say underage suspects have been identified

VIDEO: North Island Bantam Eagles tie Dawson Creek Canucks in front of massive hometown crowd in Port Hardy

The Tier 3 Bantam Championships continued in style last night at the Don Cruickshank Memorial Arena.

Tri-Port Midget Wild finish season with gold medal performance

The other teams were no match for the Tri-Port girls.

Chief Administrative Officer officially appointed in Port McNeill

“Pete brings with him 17 years of municipal experience.”

VIDEO: Restaurant robots are already in Canada

Robo Sushi in Toronto has waist-high robots that guide patrons to empty seats

Permit rejected to bring two cheetahs to B.C.

Earl Pfeifer owns two cheetahs, one of which escaped in December 2015

Real-life tsunami threat in Port Alberni prompts evacuation updates

UBC study says some people didn’t recognize the emergency signal

Care providers call for B.C. seniors’ watchdog to step down

The association also asks the province to conduct an audit and review of the mandate of her office

Nitro Cold Brew Coffee from B.C. roaster recalled due to botulism scare

“If you purchased N7 Nitro Cold Brew Coffee from Cherry Hill … do not drink it.”

Short list for new gnome home includes Parksville, Coombs

Five potential locations have been chosen by Howard’s owners who will decide Tuesday

B.C. man gets award for thwarting theft, sexual assault – all in 10 minutes

Karl Dey helped the VPD take down a violent sex offender

Baby left alone in vehicle in B.C. Walmart parking lot

Williams Lake RCMP issue warning after attending complaint at Walmart Wednesday

Nowhere to grieve: How homeless people deal with loss during the opioid crisis

Abbotsford homeless advocate says grief has distinct challenges for those living on the streets

Most Read