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Cineworld reports first-half profits boost
Increased attendance levels driven by blockbusters, such as Slumdog Millionaire, contributed towards a 12.8 per cent increase in Cineworld’s operating profits for the first half of the year.
The UK-based cinema operator has also revealed plans to open two new cinemas - a five-screen venue in Witney, Oxfordshire, and a 10-screen facility in Aberdeen - in the second half of 2009 after reporting an 18.2 per cent increase revenue. According to Cineworld chief executive Stephen Wiener, the company's investment in digital and 3D technologies is also starting to deliver strong results, with a number of 3D films set for release during the second half of the year.
Wiener said: "Our investment in digital is already bearing fruit and, while it is still early days, the return on investment so far has been very encouraging. We are the clear market leaders in digital and 3D and believe further opportunities will arise from these exciting new formats going forward. The second half has started very well for the Group and there are some exciting new film releases ahead of us in the remainder of the year and beyond."
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