Cineplex reports third-quarter profit down from year ago, revenue up

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TORONTO — Cineplex Inc. reported its third-quarter profit fell compared with a year ago as revenue increased 4.4 per cent, boosted by gains at the box office and concession stands.

The movie theatre company says it earned $10.2 million or 16 cents per diluted share for the quarter ended Sept. 30, compared with a profit of $17.2 million or 27 cents per diluted share a year ago.

The results for the most recent quarter included higher share-based compensation costs and $1 million in restructuring costs.

Revenue for the quarter totalled $386.7 million, up from $370.4 million as box office and concession gains were offset in part by lower advertising revenue.

Theatre attendance increased to 17.2 million compared with 16.8 million, while box office revenue per patron was $10.07, up from $9.81 a year ago.

Concession revenue per patron amounted to $6.25, up from $6.01 in the same quarter last year.

 

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The Canadian Press