Cineworld Reports Positive Cash Flow In October As Revenues Hit

“There are real grounds for optimism in our industry,” Cineworld CEO Mooky Greidinger beamed today as the world’s second largest exhibitor issued a trading update. The company reached “an important milestone” in its recovery, generating positive cash flow in October, it said in the statement. Although it didn’t get into exact figures, Cineworld did report significant improvement in box office and concession revenue for the four months ended October 31 2021 — in some cases reaching or exceeding 2019 levels.   In October, group box office and concession sales were at 90% of 2019 after steadily rising across the summer months. Cineworld’s Regal chain in the U.S. went from 45% of 2019’s business in July and August to 54% in September and 80% in October. With MGM/Eon/Universal’s No Time To D …
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