Odeon regains number one cinema title from Cineworld as revenues jump 21%
Odeon has regained its number one slot among cinema chains in 2015 from rival Cineworld, boosting hopes for owner Guy Hands that it can be sold this year.
Odeon’s revenues increased by 21.2% last year to £321.5 million, giving it the largest market share in Britain since 2012 and nudging it ahead of rival Cineworld, industry data from Rentrak reveal.
Chief executive Paul Donovan took the helm last year with a two-year strategy to turn around the group’s fortunes.
He said: “We made a lot of improvements to the experience in our cinemas in time for the Christmas blockbuster season.”
The latest James Bond film, Spectre, and Star Wars: The Force Awakens helped cinemas to a blockbuster end to the year.
The Force Awakens has raked in more than $1.5 billion (£1 billion) in box office takings so far, according to Box Office Mojo.
Everyman, the independent cinema chain, separately said in a trading update it had benefited from the strong slate of releases in the second half.
