Canadian movie theatre chain Cineplex (CGX) reported that its fourth quarter revenue rose 15% year-over-year to $350.1 million as attendance continues to recover from pandemic lows.
The Toronto headquartered company also reported a $10.2 million profit for the fourth quarter compared to a $21.8 million loss a year ago.
Cineplex said that it is also getting a revenue boost from premium products such as 3D ticket sales to popular films such as 'Avatar: The Way of Water.'
Premium offerings also include UltraAVX and Imax screens. All together, premium offerings accounted for nearly half of Cineplex’s Q4 revenue.
The company also reported record box office and concession revenue per patron during Q4.
Box office revenue per patron came in at $13.06 in the quarter, rising from $12.29 a year ago. Concession revenue per patron rose to $8.93 from $7.49 in Q4 2021.
Cineplex’s stock has declined 33% over the last 12 months to trade at $8.93 per share.
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