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Cineworld hails 'strong' UK opening weekend as moviegoers return to big screen
StockMarketWire.com
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Cinema group Cineworld reported a 'strong' opening weekend in the UK, led by the success of Peter Rabbit 2: The Runaway.
This weekend's performance went 'beyond our expectations as customers were eager to return to the movies and enjoy the full movie experience, including the traditional popcorn which led to strong concession income,' the company said.
In the US, following the opening of additional 167 cinemas, over 97% of the company's cinemas, about 502 sites, had resumed operations.
In Rest of World, Poland and Israel would be opening at the end of the coming week and the company anticipated that most if its cinemas will be open by the end of the month.
'With the releases next week of Cruella, and A Quiet Place 2, we expect next weekend's results to be strong,' the company said.
'When combined with improving consumer confidence and the success of the vaccination rollout, we expect a good recovery in attendance over the coming months, noting the record breaking success of F9 in the Asian market,' it added.
Story provided by StockMarketWire.com
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