Cineworld hails 3D effect

10th Mar 2011 12:35

Cineworld says it is now Britain's biggest cinema operator after seeing strong revenues in 2010.Sales climbed by 4.8% to £342.8m, though pre-tax profits were more or less flat at £30.4m. Cineworld has benefited from the release of 3D films such as Toy Story 3, which helped lift average admission prices by 5.9% to £4.99. The consumer is still cautious though, with the average spend on extras such as hot-dogs and popcorn climbing by just a penny to £1.73."To close 2010 as the leading cinema operator by total box office is the crowning achievement of a successful year," said chief executive Stephen Wiener.He is less cautious than some other consumer-facing businesses for this year."While customers will continue to seek value, cinema remains a well-priced leisure option that can only benefit from an improving economy," he said. "We anticipate that advertising demand will remain solid and together with the strong film release schedule we are confident for the year ahead."