Cineworld Group plc Company Update (5095Z)
May 24 2021 - 2:00AM
UK Regulatory
TIDMCINE
RNS Number : 5095Z
Cineworld Group plc
24 May 2021
FOR IMMEDIATE RELEASE
24 May 2021
Cineworld Group plc ("Cineworld" or the "Group")
Company Update
Reopening
Cineworld is pleased to report a strong opening weekend in the
UK, led by the success of Peter Rabbit 2: The Runaway. This
weekend's performance went beyond our expectations as customers
were eager to return to the movies and enjoy the full movie
experience, including the traditional popcorn which led to strong
concession income.
In the US, following the opening of additional 167 cinemas, over
97% of our cinemas (502 sites) have resumed operations. In ROW,
Poland and Israel will be opening at the end of the coming week and
the company anticipates that most if its cinemas will be open by
the end of the month.
US CARES Act Refund
The Group is also pleased to announce it has received the full
$203m tax refund under the US CARES Act.
Mooky Greidinger, CEO, commented:
"We are thrilled to have our cinemas back in business in the US
and UK and to welcome movie fans back to the big screen for an
exciting and full slate of films. We are especially pleased with
the warm welcome our employees have received, and the positive
feedback from returning guests. With the releases next week of
Cruella, and A Quiet Place 2, we expect next weekend's results to
be strong. When combined with improving consumer confidence and the
success of the vaccination rollout, we expect a good recovery in
attendance over the coming months, noting the record breaking
success of F9 in the Asian market. We are excited for our customers
to experience the magic of big screen entertainment again, all made
possible by the hard work of our colleagues around the world, and
remain committed to be the best place to watch a movie."
Cautionary note concerning forward looking statements
Certain statements in this announcement are forward looking and
so involve risk and uncertainty because they relate to events, and
depend upon circumstances that will occur in the future and
therefore results and developments can differ materially from those
anticipated. The forward looking statements reflect knowledge and
information available at the date of preparation of this
announcement and the Group undertakes no obligation to update these
forward-looking statements. Nothing in this announcement should be
construed as a profit forecast.
C ontacts
Cineworld Group Finsbury:
plc:
Israel Greidinger +44 (0)20 8987 5000 James Leviton +44 (0)20 7251 3801
Nisan Cohen investors@cineworld.co.uk Rob Allen cineworld-lon@finsbury.com
Manuela Van Dessel
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END
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