Cineplex stories Q1 loss as income soars with clients returning to theatres

TORONTO – Cineplex Inc. reported a first-quarter lack of $42.2 million in its newest quarter as its income soared with clients returning to film theatres.

CEO Ellis Jacob says with working restrictions now utterly lifted throughout its theatres, clients are returning and the corporate is seeing constructive outcomes and momentum throughout its enterprise traces.

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

Income totalled $228.7 million, up from $41.4 million within the first three months of 2021.

The corporate says theatre attendance within the quarter totalled 6.7 million in contrast with 415,000 in the identical quarter final yr when it confronted with pandemic-related closures for a majority of the interval.

Field workplace income per patron was a first-quarter report of $12, in contrast with $9.20 a yr in the past, whereas concession income per patron was an all-time quarterly report at $8.82, up from $6.12 in the identical quarter final yr.

This report by The Canadian Press was first revealed Might 13, 2022.

Corporations on this story: (TSX:CGX)

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