CBJ — Cineplex had $24.4 million of net income in the second quarter, as total revenue increased by more than 12.5% and cost-reduction efforts proved to be quite effective over the past year.
The Toronto-based cinema and entertainment company says revenue for the three months ended June 30 was $409 million, a record high for the second quarter.
Attendance was up 5% from 2017, increasing box office revenue by almost 10% to just over $187 million. Revenue from food services surged almost 15% to a record $114 million, proving once again that people like their popcorn, hot dogs and pop, et al while watching a movie.
Shared from The Canadian Business Journal
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