The world’s second-largest cinema chain, Cineworld Group plc (LON:CINE), welcomed a record 308mln customers into its theatres in 2018.
The standout performer was the US business, with Cineworld reaping the rewards of its transformational US$3.5bn acquisition of US chain Regal Entertainment, a deal which completed last February and gave it a strong presence in the lucrative North American market.
READ: Cineworld to buy Regal for US$3.5bn
American ticket sales surged 6.9% as cinemagoers flocked to see Black Panther, Avengers: Infinity War and Incredibles 2, while the jump in admissions also benefitted sales of popcorn, hot dogs and drinks.
Overall, total revenue in the US rose 8.6%, although total group revenue – up 4.8% – was held back by a less inspiring performance in its home UK market.
Total revenue on this side of the pond fell 0.6% on a constant currency basis, as its cinemas, without the lure of Star Wars this time around, attracted fewer visitors.
Star Wars returns this year though, as does Toy Story and Lion King, which leaves Cineworld “well-positioned for another year of growth”, read Wednesday’s update.
Cineworld shares opened 3% lower at 268p on Wednesday.