Cineplex reports $21.8M fourth-quarter loss, revenue up as people head to theatres

TORONTO — Cineplex Inc. reported a loss of $21.8 million in the fourth quarter as it was helped by October and November movie releases, but faced closures and capacity restrictions at most of its locations in late December. 

The company says the loss amounted to 34 cents per diluted share for the quarter ended Dec. 31 compared with a loss of $230.4 million or $3.64 per diluted share in the last three months of 2020.

Revenue totalled $300 million compared with $52.5 million a year earlier as theatre attendance rose to 10.2 million compared with 800,000 in the fourth quarter of 2020.

Box office revenue rose to $125.9 million during the fourth quarter, compared with $7.3 million a year earlier when theatres were closed for the majority of the quarter.

Food services revenues increased to $87.2 million compared with $10.5 million a year earlier and total media revenue rose to $32.8 million compared with $12.5 million in the final three months of 2020.

Amusement revenue climbed to $45.1 million compared with $13.6 million a year earlier, while other revenue rose to $8.9 million compared with $8.6 million in the fourth quarter of 2020.

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This report by The Canadian Press was first published Feb. 11, 2022.

Companies in this story: (TSX:CGX)

The Canadian Press