Everyman Media shares rose on Friday as the group released a 52-week trading update that revealed their revenue doubled from the year before.
Everyman reported a 101% rise in revenue to £48.7m in the 52 weeks to 30th December.
The group said they expected EDITDA to be ahead of current market forecast at approximately £8.3m.
Everyman benefited from the reopening and reduction of restrictions during a 33-week over the 52-weeks so one would expect revenue to further increase over the coming the period, if further restrictions are avoided.
The company current operates 36 venues and said they had plans to launch an additional 5 venues in the current financial year.
“Robust admissions seen across our estate in the second half of the year proves that demand for entertainment at Everyman remains strong,” said Alex Scrimgeour, Chief Executive Officer of Everyman Media Group.
“I would like to say a special thank you to our incredible team for making it happen in such exceptionally difficult circumstances. We are increasingly optimistic about 2022 performance and excited by our new opening pipeline. We are looking forward to a stimulating and diverse slate of films which will entertain our Everyman community.”
