Cineworld Group plc was founded in 1995 and is now one of the leading cinema groups in Europe. Originally a private company, it re-registered as a public company in May 2006 and listed on the London Stock Exchange in May 2007. Currently, Cineworld Group plc is the only quoted UK cinema business.
In December 2012, the Group acquired the Picturehouse chain of cinemas consisting of 21 cinemas, and in February 2014, the combination with Cinema City completed, creating the second largest cinema business in Europe (by number of screens). The enlarged Group now has 217 sites and a total of 2,000 fully digital screens. Our portfolio includes four out of the ten highest grossing cinemas in the UK and Ireland. We pride ourselves on outstanding picture quality and atmospheric surround sound; the soft, deep-down comfort of our modern seating; the crunch of our popcorn; and, most importantly, the friendliest customer service around. All our sites are digital, and we are one of the market leaders in 3D, a format which will become increasingly important.
In 2014, Cineworld accounted for 82.9 million admissions, had revenues of £619.4 million and an Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) before exceptional items of £126.6 million.

Response to Office of Fair Trading Announcement

RNS


RNS Number : 6448D

Cineworld Group plc

30 April 2013






30 April 2013



Cineworld Group plc



Response to Office of Fair Trading Announcement





On 6 December 2012 Cineworld announced that it had acquired City Screen Group, which trades as Picturehouse (the "Acquisition").



The Office of Fair Trading has today announced that it has referred the Acquisition to the Competition Commission because of concerns that it may reduce local competition in certain areas.



Cineworld will be assisting the Competition Commission with its investigation. A further announcement will be made in due course.

Canaccord Genuity has kept its 'buy' rating and 360p target price for cinema chain Cineworld saying that the Office of Fair Trading's (OFT) referral of the Picturehouse takeover to the Competition Commission will not affect the business.

Analyst Wayne Brown admitted the the OFT referral was of no surprise but "will have no impact on the group as both businesses are being run independently of each other".

Broker snap: Canaccord upbeat about Cineworld despite OFT referral
Wed 01 May 2013




Broker snap: Canaccord upbeat about Cineworld despite OFT referral LONDON (SHARECAST) - Canaccord Genuity has kept its 'buy' rating and 360p target price for cinema chain Cineworld saying that the Office of Fair Trading's (OFT) referral of the Picturehouse takeover to the Competition Commission will not affect the business.

Analyst Wayne Brown admitted the the OFT referral was of no surprise but "will have no impact on the group as both businesses are being run independently of each other".

The broker pointed out that there are concerns with a reduction of competition at five local cinemas but the group should argue that they operate and appeal to a different client base.

Canaccord believes that if Cineworld is unsuccessful, a sale of these five cinemas will result in a £1.2m reduction (-2.5%) to profit before tax.

Meanwhile, while the group did not comment on current trading in a press release on Tuesday, Brown said that industry data suggests that weekend box office revenues are 13% ahead of last year and the film slate looks strong.

The stock is trading at 12.8 times 2013 earnings for 12% earnings per share growth.

"Momentum is improving and we see continued forecast upgrades in FY13E," Brown said.

The stock was down 0.17% at 289p by 11:11.

02 May 08:28 Cineworld Group PLC Canaccord Genuity Reiterates

Cineworld Group PLC (CINE:LSE) set a new 52-week high during today's trading session when it reached 310.25. Over this period, the share price is up 47.97%.

Questor share tip: Cineworld still a buy for income and growth
Cineworld's referral to the Competition Commission is not a cause for concern. Questor says buy.
Garry White By Garry White
7:00AM BST 02 May 2013


Cineworld's acquisition of the Picturehouse cinema chain has been referred to the Competition Commission. Investors should not fret.

The multiplex cinema chain Cineworld announced plans to buy the independent “art house” cinema chain Picturehouse in December for £47.3m.

The issue for the regulator is with five cinemas owned by Picturehouse where it thinks that competition will suffer if a purchase goes through.

These cinemas are located in Aberdeen, Brighton, Bury St Edmunds, Cambridge and Southampton. The regulator fears that a lack of competition could see ticket prices increase in these areas.

Share price forecast




The 8 analysts offering 12 month price targets for Cineworld Group plc have a median target of 322.50, with a high estimate of 360.00 and a low estimate of 238.00. The median estimate represents a 4.12% increase from the last price of 309.75

09 May 08:35 Cineworld Group PLC Investec Retains

Cineworld: Investec takes target price from 310p to 347p retaining its buy recommendation.

Cineworld Group PLC (CINE:LSE) set a new 52-week high during today's trading session when it reached 325.63. Over this period, the share price is up 51.28%.

Interim Management Statement

http://www.moneyam.com/action/news/showArticle?id=4594713

Canaccord Genuity Buy 324.25 360.00 360.00 Reiterates

N+1 Singer Hold 325.25 325.25 327.00 340.00 Downgrades

Investec Buy 324.00 347.00 347.00 Retains

Numis Add 324.63 325.25 350.00 350.00 Reiterates

Credit Suisse retains neutral on TUI Travel, target raised from 322p to 377p.

N + 1 Singer cuts Cineworld Group to hold from buy, target raised from 327p to 340p.

Cineworld Group PLC (CINE:LSE) set a new 52-week high during today's trading session when it reached 334.50. Over this period, the share price is up 53.00%.

Money am -
Ex-Dividend
05 Jun 13 Cineworld Group PLC [CINE] (8 p) (05 Jun 13 Cineworld Group PLC [CINE] (8 p)

From the company web page -
Final Dividend Record Date 7 June 2013
Final Dividend Payment Date 4 July 2013

Office of fair trading -


Completed acquisition by Cineworld plc of City Screen Limited
ME/5877/12
The OFT’s decision on reference under section 22 given on 30 April 2013. Full text of decision published 5 June 2013.


DECISION
114. The OFT has therefore decided to refer the completed acquisition by Cineworld plc of City Screen Limited to the Competition Commission pursuant to section 22 of the Act.




http://www.oft.gov.uk/shared_oft/mergers_ea02/2013/Cineworld.pdf

Britain’s second biggest cinema operator Cineworld (LON:CINE) found an audience as the market weighed up the impact of the sale of the Vue chain.

It has been sold to a private equity firm for £935mln, sparking suggestions of more M&A activity in the sector.

Canaccord Genuity thinks the Vue sale is significant for a number of reasons, not least because it raises the question of whether Cineworld, which recently unveiled the proposed acquisition of indie operator Picturehouse, has ambitions to expand into Europe.

10 Jun Canaccord... 360.00 Buy

11 Jun Canaccord... 360.00 Buy
11 Jun Investec 347.00 Buy