“There are real grounds for optimism in our industry,” Cineworld CEO Mooky Greidinger beamed today as the world’s second largest exhibitor issued a trading update.
The company reached “an important milestone” in its recovery, generating positive cash flow in October, it said in the statement.
Although it didn’t get into exact figures, Cineworld did report significant improvement in box office and concession revenue for the four months ended October 31 2021 — in some cases reaching or exceeding 2019 levels.Cineworld operates in 10 countries with 752 sites and 9,193 screens.
Its rest of world performance was 79% of 2019 levels in July, 70% in August, 78% in September and 84% in October.The company cited discipline on costs as underpinning the
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