Cineplex reports $33.6M Q3 loss, audiences grow

TORONTO – Cineplex Inc. reported a loss of $33.6 million in its latest quarter as movie audiences grew with all of its theatres open again.

The movie theatre company says the loss amounted to 53 cents per diluted share for the quarter ended Sept. 30 compared with a loss of $121.2 million or $1.91 per diluted share a year ago.

Revenue totalled $250.4 million, up from $61.0 million in the same quarter last year, while theatre attendance rose to 8.3 million compared with 1.6 million a year ago.

Cineplex says it reopened its entire circuit of theatres as of July 17.

Box office revenue was $94.1 million in the quarter, up from $14.5 million in the same quarter last year, while food service revenue totalled nearly $80 million, up from $15.5 million.

Cineplex reported $14.1 million in media revenue, up from $12.8 million, and $53.3 million in amusement revenue, up from $13.2 million. Other revenues amounted to $8.9 million, up from nearly $5 million a year ago.

This report by The Canadian Press was first published Nov. 11, 2021.

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