Beauty and the Beast, La La Land, Guardians of the Galaxy Vol. 2 and The Fate of the Furious boost Cineworld's revenue growth

Shruti Tripathi Chopra
Follow Shruti
89th Annual Academy Awards - Show
Emma Stone won an Oscar for La La Land earlier this year (Source: Getty)

High grossing films including Beauty and the beast and La La Land boosted Cineworld's revenues over 21 per cent between 1 January and 11 May.

In a trading update, the group revealed retail revenue grew 19.7 per cent as a result of increase in admissions.

So far this month, Cineworld has opened a new six-screen cinema in Ely and is due to open a further 12 sites by the end of the year.

Then group, which also has its AGM today, expects to be on track to deliver a performance for year in line with current market expectations.

Read more: UK films take 16 per cent share of worldwide box office in 2016

The highest grossing films in the period were Beauty and the Beast, La La Land, Sing, Guardians of the Galaxy Vol. 2, The Fate of the Furious and The Lego Batman Movie.

Cineworld said: “Retail revenue also showed strong growth of 19.7 per cent as a result of the increase in admissions, the nature of the film mix and the expansion of the group's retail offerings, such as the opening of new Starbucks outlets and VIP sites,

“The increase in UK admissions also had a positive effect on screen advertising revenues for the period, with other Income increasing by 7.5 per cent across the group, despite a particularly strong comparative period."

Related articles