Bearing up nicely: Cineworld is boosted by Paddington as Brits splash out on tickets

 
Lucy Tobin14 January 2015

London was asked to “please look after this bear”, and Paddington in turn looked after Cineworld profits, which the cinema chain has said should hit the top of City forecasts after Brits paid more for their tickets.

The pulling power of blockbusters like Paddington mean full-year earnings will be at the top end of City expectations, Cineworld said.

Although the number of bums on cinema seats in the UK actually fell 3.7% during the year, average ticket prices rose 4%.

Cineworld, which also owns the arty Picturehouse chain, saw revenues rise 5.2% last year.

Britain’s healthier economy was shown in the popcorn index of discretionary spending as the concessions tills took 2.3% more cash in UK cinemas last year, Cineworld said.

This year, it flags a strong roster of films, including Avengers: The Age of Ultron, Star Wars: Episode VII, Jurassic World, the final Hunger Games title and the next Bond film Spectre.

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