Cineworld boosted by Brit flick
26 October 2011 09:50
British comedy The Inbetweeners Movie has driven growth in box office sales at the UK's largest cinema operator Cineworld.
The film, a spin-off of the popular Channel 4 sitcom about the suburban lives of four teenage boys, was singled out as helping to lift Cineworld box office revenues 1.4% in the 42 weeks to October 20th.
Cineworld said The Inbetweeners Movie, which held the most successful opening weekend for a British comedy film, had nearly matched the performance of Oscar-winner The King's Speech.
The group, which has 78 sites and more than 800 screens, said the final quarter has a "promising" line up including the fourth Mission Impossible film, Sherlock Holmes 2 and The Adventures of Tintin.
As well as The Inbetweeners Movie, Harry Potter: Deathly Hallows part 2 in 3D, Rise of the Planet of the Apes and Bridesmaids all lifted box office sales in the second half of the year.
3D admissions to date represented almost 18% of total admissions, compared to 16% for the first half of the year, Cineworld said.
Retail revenues - such as food and drinks - edged 0.1% higher in the period, the group said.
Cineworld said it is continuing to expand its digital screens, with almost 70% of screens converted and it is scheduled to convert a further 76 screens by the end of the financial year.
Johnny English - Reborn, The Twilight Saga: Breaking Dawn part 1 and Puss in Boots in 3D were also flagged as movies which should help offset the ongoing weakness in the wider advertising market.
Nigel Parson, analyst at Evolution Securities, said: "Cineworld's year continues to pan out much as expected, the third quarter has been a good quarter despite tough comparatives."
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