Canadian movie theatre chain Cineplex (CGX) has reported strong financial results for the fourth quarter of 2024 as movie theatre attendance continues to recover after the pandemic.
The Toronto-based company announced earnings per share (EPS) of $0.05, which compares to a loss of -$0.14 a year earlier.
Revenue in the period totalled $362.7 million, up from $315.1 million in the last three months of 2023. Sales increased 15% year-over-year.
Cineplex said that box office revenue per movie theatre patron during Q4 2024 amounted to $13.26, up from $12.90 in the same quarter of 2023.
At the same time, sales from concession stands increased to $9.41, up from $9.28 a year ago.
Cineplex also said that its box office revenue for January of this year totalled $37.5 million, which was near the $37.6 million achieved in January 2024.
The latest results are an improvement for the company after several difficult years prompted by the Covid-19 pandemic that saw many of its movie theatres shuttered or forced to operate at reduced capacity.
The stock of Cineplex has risen 38% over the past 12 months to trade at $10.88 per share.
