Cineplex reports $23.8M Q3 profit, record quarterly revenue
TORONTO — Cineplex Inc. reported a third-quarter profit of $23.8 million as it saw record revenue for the period, boosted by "Spider-Man: Brand New Day" and "The Odyssey."
Cineplex Inc. reported a strong profit of $23.8 million for the third quarter, accompanied by record revenue of $440.2 million. The company credited the success to hit films "Spider-Man: Brand New Day" and "The Odyssey," which drove attendance to 14.8 million people, a rise from 12.1 million in the same period last year. Box office revenue per patron increased to $14.54 from $13.23, while concession revenue per patron climbed to $9.99 from $9.65.
In September, Cineplex appointed former Landmark Cinemas CEO Bill Walker as their new CEO and initiated a review of strategic alternatives, potentially including a sale.
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