'Star Wars' helps propel Cineplex to best-ever annual earnings

TORONTO -- The Force was with Cineplex last year as the latest instalment in the "Star Wars" saga helped propel the theatre chain to its best-ever annual and fourth-quarter financial results.

See Full Article

Box office revenue was $196.3 million in the final quarter of 2015, up $23.8 million or 13.8 per cent from a year earlier.

Cineplex's total revenue from all sources including concession sales, advertising and newer business initiatives was $407.4 million, up 22.6 per cent from the fourth quarter of 2014.

Net income more than doubled to $76.8 million or $1.22 per share, up 139.4 per cent from $32.1 million or $0.51 per share.

"Star Wars: The Force Awakens" was in the company's theatres for 14 days of the fourth quarter and was Cineplex's top film for 2015.

In the fourth quarter, Cineplex had record attendance of 20.4 million -- 7.1 per cent higher than a year earlier.

Box office revenue per patron was $9.63, up 6.3 per cent in the fourth quarter of 2014, and concession revenue per patron was $5.58, up 8.6 per cent.



Advertisements

Latest Economic News

  • Tip Top Tailors owner sells assets in deal that will see 140 stores remain open

    Economic CTV News
    TORONTO -- The assets of Grafton-Fraser Inc., owner of Tip Top Tailors and other menswear chains, have been bought by U.S.-based GSO Capital Partners in a move to stabilize the Canadian retail business. As part of the agreement, the new operators of the Toronto-based retailer is keeping 140 stores open across the country, while 12 underperforming locations have been closed, affecting 100 jobs. Source
  • Staples to be acquired by Sycamore in $6.9B US deal

    Economic CBC News
    Private equity firm Sycamore is buying office supplies chain Staples for $6.9 billion US. The companies said Wednesday that shareholders of Framingham, Mass.-based Staples will get $10.25 US per share. Staples stock had closed Wednesday up 77 cents, or 8.4 per cent, to $9.93 on a late-afternoon report of a deal. Source
  • Cyberattack spreads across the globe, but its origins and purpose remain murky

    Economic CBC News
    As a cyberattack continued to spread among nations and corporations on Wednesday, the identity and motives of the attackers remain a mystery. Ports, hospitals and banks around the globe have been hit by a version of ransomware being called ExPetr, similar to Petya but with a different functionality. Source
  • Head of NEB welcomes overhaul recommendations

    Economic CTV News
    CALGARY - The head of the National Energy Board says the proposed overhaul of the federal regulator will make it more suited to the challenges of the 21st century. Speaking at the sidelines of an industry safety workshop, NEB chairman Peter Watson says recommendations last month by a modernization panel could fix some of the limitations of the regulator and help it keep up with the times. Source
  • Boeing seeks delay in duty ruling on petition against Bombardier

    Economic CBC News
    Bombardier may have to wait an extra two months to find out if its CSeries commercial jets will be hit by punishing U.S. duties. Boeing has requested that the U.S. Commerce Department delay its preliminary determination on its petition until Sept. Source
  • Shopify sees big uptick in U.S. job applicants after Trump's election, CEO says

    Economic CTV News
    TORONTO -- Shopify's CEO says it's a great time for Canadian startups to attract talent as the U.S. government is creating an uninviting environment for a lot of people. Tobias Lutke says his company is receiving many more applications from U.S. Source
  • Shopify sees boost in applicants from U.S. after Trump's election, CEO says

    Economic CTV News
    TORONTO -- It's a great time for Canadian startups to attract top talent from south of the border as the U.S. government is creating an unwelcoming environment, the chief executive of Shopify says. "The Americans are doing a really great job of uninviting a lot of kinds of people who otherwise would go there," said Tobias Lutke, who founded the e-commerce platform firm in 2004. Source
  • Ontario proposes banning real estate agents from representing seller and buyer

    Economic CBC News
    Ontario is proposing banning the practice of double ending, in which a real estate agent represents both a buyer and a seller in a transaction. The Liberal government announced its 16-point housing plan earlier this year, with centrepiece planks of a 15 per cent foreign buyer tax and expanded rent controls. Source
  • SEC fraud charges filed against Penn West, three former finance execs

    Economic CBC News
    Two days after changing its name and vowing to put its scandal-tainted past behind it, the former Penn West Petroleum is being hit with charges by the U.S. Securities and Exchange Commission. The SEC charges allege the Calgary-based oil and gas firm and three of its former finance executives participated in a "multi-year accounting fraud" where hundreds of millions of dollars were mislabelled to improve the appearance of its operating metrics. Source
  • Penn West shares plunge after SEC files fraud charges

    Economic CBC News
    Two days after changing its name and vowing to put its scandal-tainted past behind it, the former Penn West Petroleum is being hit with charges by the U.S. Securities and Exchange Commission. The SEC charges allege the Calgary-based oil and gas firm and three of its former finance executives participated in a "multi-year accounting fraud" where hundreds of millions of dollars were mislabelled to improve the appearance of its operating metrics. Source