Change in Presentation Currency

RNS Number : 7352N

Cineworld Group plc

11 May 2018

 

FOR IMMEDIATE RELEASE

11 May 2018

CINEWORLD GROUP PLC

Change in Presentation Currency

Following completion of the acquisition of Regal Entertainment Group on 28 February 2018, a significant majority of the revenue, costs and cash flow of Cineworld Group plc (the "Company" or "Cineworld") and its subsidiaries (together the "Group") is now generated in the United States in US Dollars.  

Accordingly, the Board has determined that, for financial periods beginning on or after 1 January 2018, the Company will change the presentational currency in which the Group presents its consolidated financial results from pounds sterling to US Dollars. The Board believes that, with the preponderance of US earnings within the Group, the change in currency will provide a more meaningful understanding of Cineworld's financial performance by more accurately reflecting the profile of its operations. At the same time the change will reduce the impact of currency movements on reported results.

The trading update to be published on 16 May 2018, the interim results for the six months ending 30 June 2018 and the full-year financial report for the year ending 31 December 2018 will be presented in US Dollars and will include all comparative information in US Dollars.

Contacts

Cineworld Group plc:		Powerscourt:
Israel Greidinger	020 8987 5000	Elly Williamson	[phone]
Nisan Cohen	020 8987 5000	Nick Dibden	[e-mail]
Manuela Van Dessel	020 8987 5000	Lisa Kavanagh

 

END

 

 

MSCAMMMTMBTBTAP