Fifty Shades drives Cineworld revenues up

13th Aug 2015 07:28

(ShareCast News) - Movie chain Cineworld posted revenues up by 22.5%, off the back of strong films such as "Fifty Shades of Grey", "Fast and Furious 7", and "Jurassic World." Shares in the stock climbed by 3.56% to 568p at 0807 BST.Cineworld posted group revenue of £329.1m from £268.6m, which included the revenue from its acquisition of Cinema City, which accounted for £109.8m or about a third of group revenues.Strong overall profit forma revenue growth of 11.3% was the result of the above titles which all broke box office records, as well as "Avengers: The Age of Ultron" the company said.The company's earnings before interest, tax, depreciation and amortisation rose by 41% to £64.7m from £45.9m.Earnings per share were up by 45% to 11.6p from 8p. The board declared an interim dividend of 5p per share up from 3.8p per share the year before.In a statement, Cineworld said it was marginally ahead of plans for the year as a whole.Notable releases towards the end of the year include "Star Wars: Episode VII", the final Hunger Games title "Hunger Games: Mockingjay Part 2" and the next Bond film "Spectre", the company said.