Everyman Media Group PLC (LON:EMAN) shares flicked higher on Wednesday morning as the posh cinema chain reported a surge in ticket sales.
The AIM-quoted company, which can charge upwards of £20 for a ticket, welcomed just shy of 1.35mln customers through the doors of its 22 venues in the six months to July 5, up 29% year-on-year (H1 17: 1.04mln)
Alongside a small rise in ticket prices and food and drink sales, that helped to push revenue up by a third to £24.9mln (H1 17: £18.8mln). Adjusted underlying earnings jumped 35% to £4.1mln (H1 17: £3.0mln).
READ: Everyman to open more cinemas as demand continues to grow
“Everyman differentiates by focusing on delivering a high-quality offer through its venues, content, staff and food and beverage,” said chairman Paul Wise.
“The board's long-held belief in this model as being the bedrock for significant growth within the UK has been further strengthened in the last six months and our ambitions continue to grow.”
The soaring demand goes against the theory put forward by some UK retailers and restaurant chains that cash-strapped Brits are becoming increasingly cautious with their spending.
Helping to draw in the crowds was a strong series of film releases in the first half of the year, including Black Panther, Deadpool 2 and the latest Jurassic World movie.
Trading so far in the second half has been in line with expectations, Everyman added.
Shares were up 1.5% to 221.2p in early deals.