The British exhibition giant, which last year completed its $3.6 billion Regal acquisition, cites 'the timing of major film releases in 2019 compared to 2018' for its slower start to the year.
On Thursday, it said that at the mid-year point its revenue was down 11.1 percent on a pro forma basis, which assumes that it owned Regal for the complete year-ago period, to $2.15 billion. Cineworld again said that the drop was "due to the timing of major film releases in 2019 compared to 2018."
Admissions for the first six months of 2019 fell 14.4 percent to 136 million, with box office revenue down 14.9 percent to $1.27 billion. But the company touted a "compelling film slate scheduled for the second half following the recent strong performance ofConcession revenue for the six months decreased 7.7 percent to $623.
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