Cineplex reports Q1 loss as revenue soars with customers returning to theatres – The Peterborough Examiner

By The Canadian Press

Fri., May 13, 20221 min. read

TORONTO – Cineplex Inc. reported a first-quarter loss of $42.2 million in its latest quarter as its revenue soared with customers returning to movie theatres.

CEO Ellis Jacob says with operating restrictions now completely lifted across its theatres, customers are returning and the company is seeing positive results and momentum across its business lines.

Cineplex says the loss amounted to 67 cents per share for the quarter ended March 31 compared with a loss of $89.7 million or $1.42 per diluted share a year earlier.

Revenue totalled $228.7 million, up from $41.4 million in the first three months of 2021.

The company says theatre attendance in the quarter totalled 6.7 million compared with 415,000 in the same quarter last year when it faced with pandemic-related closures for a majority of the period.

Box office revenue per patron was a first-quarter record of $12, compared with $9.20 a year ago, while concession revenue per patron was an all-time quarterly record at $8.82, up from $6.12 in the same quarter last year.

This report by The Canadian Press was first published May 13, 2022.

Companies in this story: (TSX:CGX)