World's No.2 movie theatre chain Cineworld posts smaller annual loss
Britain's Cineworld said on Thursday it expects its performance to improve this year thanks to pent-up demand and a full slate of movies, after posting a smaller annual loss helped by the success of Marvel's "Spider-Man: No Way Home".
Source: www.reuters.com
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(Reuters) - Britain’s Cineworld said on Thursday it expects its performance to improve this year thanks to pent-up demand and a full slate of movies, after posting a smaller annual loss helped by the success of Marvel’s “Spider-Man: No Way Home”.
The world’s second-largest movie theatre operator said pretax loss narrowed to $708.3 million for the year ended Dec. 31 from $3.01 billion in 2020 when the COVID-19 pandemic began.
Reporting by Pushkala Aripaka and Yadarisa Shabong in Bengaluru
