Cineworld celebrates as punters pay out more

 
Mike and Sulley in Monsters University
©2013 Disney•Pixar
3 July 2013

Higher ticket prices and fuller cinemas provided a Hollywood ending to the first half of the year for Cineworld.

The London-focused cinemas chain saw box-office revenues jump by 10.4% as admissions to films including Iron Man 3 and The Great Gatsby rose 5.5% and average ticket prices were pushed up by 4.6%.

Overall revenues leapt 21.9% as it benefited from its acquisition of arty film chain Picturehouse.

There was strong growth in the popcorn index of discretionary spending: movie fans spent 9.8% more on popcorn and rotating hot dogs at Cineworld kiosks, and 13.5% more on organic coffee and tapas plates at Picturehouse.

Cineworld said screen advertising revenues were also higher. It warned about a mixed second half with the huge success of Skyfall at the end of last year being difficult to beat.

But it said the film line-up for the second half was strong for 3D titles, including Monsters University.

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