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Cineplex shows healthy profits

Movie theatre operator Cineplex Inc. has reported sharply higher second-quarter profits, although revenue growth was tempered by a slight decline in attendance.

Movie theatre operator Cineplex Inc. has reported sharply higher second-quarter profits, although revenue growth was tempered by a slight decline in attendance. Toronto-based Cineplex said it earned net income of $21 million, or 34 cents per share, up sharply from $13.4 million, or 23 cents per share, a year ago. That was up 56 per cent overall and 47.8 per cent on a pershare basis. Revenue was up two per cent to $263.6 million from $258.4 million. That included record second-quarter box office revenues of $156.2 million, up 3.4 per cent from the year-earlier period despite a 0.2 per cent decline in attendance. Concession income was up 4.9 per cent at $80 million. -