Everyman Media Group (LON:EMAN) plc posted a strong six month period of growth on Tuesday, driven by increasing admissions and the amount spent on food and drinks.
Revenue for the six months grew 16% to £28.9 million and operating profit increased 14% to £1.6 million.
Everyman Media Group said that these were supported by increasing admissions and the amount spent on food and beverages.
Admissions were up by 9.4% to 1.5 million across the period and the cinema company experienced continued growth in average food and beverage spend, up by 13.2% to £6.95.
Meanwhile, Adjusted EBITDA increased by 61% to £6.6 million, up from the £4.1 million figure recorded the year prior.
Everyman Media Group, which saw its box office market share grow to 3% from 2.5% for the same period a year earlier, added that it has committed to an additional 15 new venues, of which four are expected to open in the second half of the year.
“The appetite for Everyman has never been stronger with our continued roll-out allowing us to deliver exceptional experiences to more audiences across the UK with our increasing footprint,” Crispin Lilly, Chief Executive Officer of Everyman Media Group, commented in a company statement.
“As a result, we have seen progress across both our financial and operational KPIs, with growth in revenue and operating profit driven by increasing admissions and F&B (food and beverages) spend. This has resulted in the record market share we are reporting today,” the Chief Executive Officer added.
Crispin Lilly said that the company remains “confident that there is significant room for expansion,” as Everyman Media Group is set to open its first international site in Ireland next year.
At the beginning of the year, the cinema company posted a rise in profits on the back of new openings.
Shares in Everyman Media Group plc (LON:EMAN) were trading at +0.49% as of 16:25 BST Monday.
