Cinema operator Everyman Media Group PLC (LON:EMAN) reported a blockbuster set of results for the six months ended June after last year’s major refurbishments and new venue openings paid off.
Revenues for the period rose 49% to £12.1mln, while adjusted profits (EBITDA) soared 91% to £1.4mln.
Significant maturing revenue growth from the six venue openings and two refurbishments last year were responsible for the strong performance, said chairman Paul Wise.
In the current quarter, the group opened a temporary one-screen venue in July at Kings Cross, which will remain in place until the permanent venue is completed late next year. A five-screen venue opened in Harrogate just last month.
Everyman now runs 19 venues, up from 16 at the beginning of the year.
"Since the period-end, trading has been in line with expectations following a good overall summer release slate in the cinema market set against a weak comparable period in 2015,” added Wise.
“We believe it is a good period for film-making, with increasing confidence in the quality and quantity of films over the coming years.”
Shares were trading around 3.5% lower at 105p a share.