Everyman Media Group PLC (AIM:EMAN) said it had a disappointing fourth quarter due to flops such as the latest Joker film and other blockbuster Christmas releases piling on top of each other.
“Congestion in the calendar on remaining blockbuster releases,” was an issue, the cinema group added, “With five in five weeks, leading to titles competing against each other negatively impacting the period”.
Guest spending per head also softened during November and December due to a higher-than-expected proportion of family content.
Finally, Everyman said that as a result of the government's tax hikes in the Autumn statement, it is more cautious around the outlook for 2025 and 2026.
Alex Scrimgeour, chief executive, added: "Despite last year's film slate being heavily impacted by the actor and writer's strikes as well as the fourth quarter box office underperformance of certain movies, we have made positive operational and strategic progress, resulting in record levels of membership and growth in market share.
"We are focused on continuing to control debt and reduce leverage," he said and was confident in delivering further growth.
Revenues in the 53 weeks to 2 January 2025 rose by 17.9% to £107.2 million, with underlying profits [EBITDA] flat at £16.1 million (£16.2m).
Debt reduced to £18.2 million from £19.4 million.
Shares were down 10% at 45.5p.