A mixed bag of financial news for Canadian exhibitor major Cineplex, which saw a rise in 2007 numbers on most fronts, but was dragged down by a weak fourth quarter. From the coverage in Variety:
Toronto-based Cineplex, which operates 131 multiplexes nationwide with 1,327 screens, said it lost CAN$2.77 million ($2.74 million) during the three months ending Dec. 31, compared with a profit of $4.6 million in 2006.
Fourth-quarter revenue at Canada’s largest cinema chain was down 6.3% to CAN$182.6 million ($180 million), against a year-earlier $195 million as overall Canadian box fell 15.7% during the last three months of 2007.
But at least there is a good start to 2008, in part thanks to the now-ended WGA strike:
Going forward, Cineplex Entertainment CEO Ellis Jacob told financial analysts during a morning conference call that the first five weeks of fiscal 2008 has seen boxoffice jump 15.8%.
In addition, the exhibitor has received “a bit of a bounce” in theatrical attendance owing to increased TV reruns during the WGA strike.
Unlike most other end-of-year financial summaries for non-US territories and exhibitors there is no word how domestic fare fared or what it contributed to the up or down on the numbers, which confirms the suspicion that Canada is Hollywood’s 51st state.
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