High-end cinema company Everyman Media Group PLC (LON:EMAN) plans more sites in Ireland as it released glowing interim results.
A first outlet, in Dublin, is scheduled to open next year and Crispin Lilly, chief executive, said there remains plenty of room to expand both in Ireland and the UK.
Market share hit records levels the six months for the chain, which now operates 28 venues across the UK following additions at Horsham and Newcastle.
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Fifteen new venues are in the pipeline, of which four are expected to open before this year-end. Lilly said there are no plans to scale back the rate of expansion.
Underlying profits (EBITDA) jumped 61% to £6.6mln (£4.1mln), though pre-tax profits fell to £445,000 (£1.36mln) as interest costs climbed to fuel the expansion. Revenue increased by 16% to £28.9mln (24.9mln).
Everyman promotes its cinemas as intimate venues, offering a curated programming content and a selection of food and drinks prepared in-house. These proved a hit as average spend per visit rose 13.2% to £6.95 (£6.14).
Total admissions were up 9.4% to 1.5mln (1.3mln).
‘The appetite for Everyman has never been stronger,’ said Lilly and ‘We are confident that there is significant room for expansion’.