Cineplex Inc. says it generated positive net income for the first time since the start of the pandemic.
The movie theatre company says net income amounted to $1.3 million or two cents per share for the quarter ended June 30 compared with a loss of $103.7 million or $1.64 per share a year earlier.
Revenue totalled $349.9 million, up from $64.9 million the prior year.
Cineplex says theatre attendance in the quarter totalled 11.1 million compared with 1.1 million in the same quarter last year when it was still facing pandemic-related restrictions.
Box office revenue per patron was $12.29 in the second quarter, compared with $10.89 a year ago, while concession revenue per patron was $8.84, up from $7.86 in the same quarter last year.
Top Gun: Maverick, Doctor Strange in the Multiverse of Madness and Jurassic World Dominion were Cineplex’s top films in the quarter and CEO Ellis Jacob said in a release that the cumulative success of these films “is a testament to the fact that when strong film product is available, Canadians return to (the company’s) theatres in droves.”