Cineworld Group plc
29 April 2008
Cineworld Group plc
29th April 2008
CINEWORLD GROUP PLC
Interim Management Statement
The Board of Cineworld Group plc ('Cineworld' or the 'Group') today made the
following Interim Management Statement for the 17 week trading period to 24
April 2008.
Revenues for the 17 weeks to 24 April 2008:
% change vs. prior year
(continuing operations)
Total Revenues + 3.4%
Box Office + 3.3%
Retail + 5.5%
Other Income - 1.4%
Steve Wiener, Chief Executive, Cineworld Group plc comments:
'The Group is pleased to report healthy trading in the 17 weeks to 24 April
2008, which is especially encouraging when considering the only blockbuster
during the period was I Am Legend, released at the end of 2007. With the
forthcoming releases in Q2 of 'Iron Man', 'Indiana Jones', 'Sex In The City' and
the 'Incredible Hulk', we are confident that revenues will continue to be
comfortably ahead of last year for the first half as a whole. At the end of the
period our market share was 23.6% (Source: EDI Neilsen).
The Group continues to be highly cash generative and its balance sheet remains
strong. During March 2008 we opened a 12 screen cinema in High Wycombe,
increasing our estate to 74 cinemas and 770 screens. Later in the year a new
five screen cinema is scheduled to open at Haverhill.
We are heartened by the resilience of our business in the light of the current
economic and financial climate. There is a strong line up of film releases in
the second half of this year including 'The Chronicles of Narnia', 'Batman',
'Hancock', 'The Mummy', 'Harry Potter', 'Mamma Mia', 'James Bond:Quantum Of
Solace' and 'Star Trek'. We therefore remain confident of delivering revenue
growth for the year as a whole, with the second half performance expected to be
weighted significantly more to Q4 than was the case in 2007.'
-Ends-
For further information:
Georgina Briscoe 020 7153 1530
Charlotte Winder
M:Communications
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