Everyman Media Cinema Group shares gained 1.8% to 111p in early morning trading on Wednesday after the company announced a revenue of £40.7 million in HY1 2022 from £11.8 million in HY1 2019.
The group reported an EBITDA growth to £7.5 million compared to £900,000 in 2019.
Everyman Media commented its results were especially noteworthy, due to its comparative 2019 bringing a record set of figures to the firm.
The company attributed its strong results to an increased number of venues, high admissions and a rise in average spends, alongside a reduced VAT in Q1 2022.
The group ended the period with 37 cinemas in operation against 28 cinemas three years previously, after its opening of a five-screen venue in Edinburgh.
Everyman Media confirmed a well-progressed pipeline for HY2 2022 and 2023, with a minimum of six additional venues contracted to open.
Everyman Media said it expected to meet market expectations for FY 2022 following its positive results for the HY1 financial term.
“It has been a busy six months for the Group, as our exceptional venue teams entertained guests across the country,” said Everyman Media CEO Alex Scrimgeour.
“Despite well publicised headwinds we have managed to deliver record half year sales and EBITDA.”
“We remain confident that people’s enjoyment of cinema and specifically Everyman remains undiminished”.