Cineworld expects Bond and Star Wars to deliver blockbuster box office in 2015
Cineworld is expecting a blockbuster year in 2015 thanks to a slate of forthcoming films that includes new installments to the iconic James Bond, Star Wars and Jurassic Park franchises.
The cinema chain foresees a strong a year ahead to follow what was a successful year in 2014.
In a trading update Cineworld told investors it anticipates group profitability for the year ended 1 January 2015 to be “towards the top end of market consensus”. Its full-year financial results are due to be released on 12 March.
However, regular cinema goers will not be pleased to hear that it is a four per cent increase in ticket prices which has led to increased revenues. Admissions actually fell 3.7 per cent.
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The Christmas period, which recorded box office hits in “Paddington”, “The Hunger Games: Mockingjay Part 1” and “The Hobbit: The Battle of the Five Armies”, provided a big boost for Cineworld who said the 53rd week in 2014 accounted for 3.5 per cent of its revenue growth.
With a number of big name franchise films set for release in 2015, Cineworld is expecting to profits continue to rise.
A company statement said:
There is a strong film release programme for 2015 which includes “Avengers: The Age of Ultron”, “Star Wars: Episode VII”, “Jurassic World”, the final Hunger Games title “Hunger Games: Mockingjay Part 2” and the next Bond film “Spectre”. With our plans for continued expansion across the Group, we look forward to delivering further value to shareholders in 2015.