Luxury cinema chain Everyman rakes in record profits as film fans flock to see hits like Knives Out, Vice and Green Book
Luxury cinema chain Everyman Media Group raked in record revenues and profits last year as film fans flocked to see hits such as Knives Out, Vice and Green Book.
Blockbusters including Joker and The Lion King also drew in crowds, but Everyman said it was the less well publicised and independent movies that boosted business.
Profits rose 30 per cent to £12million in the 52 weeks to January 2, the AIM-listed group said in a trading update.
Luxury cinema chain Everyman Media Group raked in record revenues and profits last year as film fans flocked to see hits such as Knives Out (pictured), Vice and Green Book
Revenues jumped 25 per cent to £65million – which included sales from seven new cinemas that opened in 2019.
Everyman now has 33 venues, which offer small screens with plush sofas and armchairs.
Customers are able to eat freshly cooked food such as pizza and drink wine while the film is showing, and will fork out an average of £11.37 for a ticket.
Chief executive Crispin Lilly said he is still upbeat about the outlook for the industry, even though data has showed that box office takings across all UK cinemas fell by 2 per cent last year.
Everyman will open another four venues this year, and said that it is banking on films such as the new James Bond movie, No Time To Die, to keep sales buoyant.