Movie magic: Everyman cinemas continue to outshine pre-pandemic levels
Everyman Media Group continues to outshine pre-pandemic levels as movie-goers continue to flock to the big screens.
Group revenue hit £40.7m, an increase of £11.8m compared to the “record year” 2019 for the 26 weeks ending 30 June.
The cinema chain in a trading update this morning it said group EBITDA was also up £900,000 to £7.5m, driven by a combination of an increased number of venues, strong admissions and higher average spends. It also benefitted from reduced VAT in the first quarter of this year.
Everyman currently has 37 cinemas, compared to 28 cinemas in 2019, and has its sights set on opening at least six more this year and next.
Everyman chief Alex Scrimgeour said: “It has been a busy six months for the Group, as our exceptional venue teams entertained guests across the country.
Despite well publicised headwinds we have managed to deliver record half year sales and EBITDA. We remain confident that people’s enjoyment of cinema and specifically Everyman remains undiminished”.
Interim results will be published for this period on 28 September.