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Cineplex reports $7.4-million first-quarter loss after attendance drops
TORONTO - Cineplex Inc. raised its dividend as it reported a first-quarter loss of $7.4 million as fewer people went to the movies. Cineplex Inc. reported theatre attendance in the quarter was down 15.6 per cent compared with a year ago. The result compared with a profit of $15.2 million or 24 cents per share in the first quarter of last year. Revenue fell to $364.9 million compared with $390.9 million in the first quarter of 2018, when Cineplex benefited from the release of Black Panther in theatres. Article Continued BelowConcession revenue per patron also rose to $6.35 compared with $6.09 in the first quarter last year.
Source: thestar May 09, 2019 12:22 UTC
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