Cineworld revenues jump 10% thanks to Black Panther and Avengers:Infinity War


Blockbusters like Black Panther and Avengers: Infinity War helped annual revenues at Cineworld jump 10.1 per cent.

The company was also helped by movements in exchange rates. On a constant currency basis, sales rose 6.7 per cent in the twelve months to 13 May.

The first four months of this year have been particularly lucrative for the cinema industry as film fans have flocked to see the latest films in the Marvel Cinematic Universe.

Black Panther and Infinity War are two of the highest-grossing movies of all time, raking in more than $1.3bn (£1bn) and $1.9bn respectively.

Cineworld did particularly well in the US where its box office receipts rose 9.8 per cent for the year. In the UK and Ireland, however, box office revenue fell 2 per cent in constant currency.

The world’s second-largest company recently bought US chain Regal for £2.7bn to expand its presence in the lucrative North American market. US box office sales are worth more than $10bn a year.

Cineworld said it would be helped in the coming weeks by a series of big-budget releases including Deadpool 2, Solo: A Star Wars Story and Jurassic World: Fallen Kingdom.

The group completed its purchase of Regal in February, a deal which means it now has more than 9,500 screens across 10 countries.

On Wednesday, Cineworld also unveiled a three-year deal with Casual Dining Group, the mid-market restaurant company that owns chains including Bella Italia, Café Rouge, Las Iguanas, Belgo and La Tasca. Cineworld members will get 25 per cent off at Casual Dining’s restaurants under the deal.

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