Everyman plans more cinema openings following sales growth

Upmarket cinema chain Everyman on Tuesday outlined expansion plans as it cheered this year’s string of blockbuster films giving sales a boost.

The AIM-listed firm said high demand to see Avengers: Endgame and Elton John biopic Rocketman contributed to admissions rising 9.4% to 1.5 million in the six months to July 4.

That helped revenues increase 16% to £28.9 million. Boss Crispin Lilly said that a “strong-looking” line up of movies on the way, including Joker and Frozen 2, will also benefit sales.

Pre-tax profits at the firm which has been expanding, decreased to £445000 from £1.4 million.

Lilly said Everyman is committed to more openings, despite political uncertainty.

The company, whose first site opened in Hampstead in 2000, will boost its 28-strong estate with a further 15 extra branches. The new London venues will be in the City, Chelsea and Borough, between now and 2021.

The shares rose 3p, or 1.7%, to 184p.