Cineworld revenues rise 13.2% as box office stays busy

BRITISH CINEMA chain Cineworld, which operates the multiscreen cinema complex on Parnell Street in Dublin, has reported a 13.2 per cent increase in revenues.

Cineworld said in a statement box office takings were up 19.1 per cent in the 17 weeks to April 23rd, helped by Oscar-winning film Slumdog Millionaire.

This rise partially offset a 24.6 per cent drop in advertising and other income.

The company did not provide a detailed breakdown of the performance of its Irish operation other than saying Dublin remains the second most profitable cinema in its group, after Glasgow.

Although it operates just one multiplex in Ireland, Cineworld is one of the State’s largest cinema operators.

The Parnell Street site has 17 cinemas with a total capacity of 3,360. Cineworld bought the Irish multiplex from UGC in 2004.

Although advertising sales were down, income from food and drink grew 10.1 per cent. Cineworld said its confidence for the year had been boosted by likely summer blockbusters due for release.

Chief executive Steve Wiener said advertising had been tough, and had been made worse by the end of a contract with Carlton Screen Advertising.