Trading Statement

RNS Number : 3219N

Everyman Media Group PLC

17 January 2019

 

17 January 2019

Everyman Media Group PLC

("Everyman", the "Company" or the "Group")

Trading Update

Everyman Media Group PLC (AIM: EMAN) provides the following trading update for the 53 weeks to 3 January 2019.

The directors of Everyman are pleased to report that trading in 2018 has continued to be in line with market expectations.

Everyman now operates 26 venues, with four new venues opened in the final quarter of the financial year (Altrincham, Crystal Palace, Glasgow and Liverpool). The total number of screens now operated by the Group is 84 (2017: 69). Together with York, which was opened in the first half of the year, this brings the total number of venues opened in 2018 to five.

The Group also continues to source exciting opportunities for future investment. Since the interim results which were published on 5 September 2018, lease agreements have been signed for four venues in Manchester, Clitheroe, Northallerton and Plymouth. Including these, the Company has commitments in place to open a further 14 venues by 2022, with seven openings expected in 2019, consisting of Horsham, Newcastle, Clitheroe, Manchester, London Broadgate, Cardiff, and Wokingham.

The directors are confident of being able to grow the existing pipeline beyond the new sites which are already committed and expected to go live in 2020. To help achieve this, the Company is pleased to announce that on 16 January 2019, it agreed to a new loan facility of £30 million provided by Barclays Bank PLC and Santander UK PLC. This replaces the previous £20 million facility signed by the Company on 10 March 2017 with Barclays Bank PLC. This new facility has a term of five years and supports growth opportunities for the Group.

The directors maintain a positive outlook for the cinema industry and for the Company in 2019. Audiences continue to enjoy film, and specifically the Everyman experience.

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014. For further information, please contact:
Everyman Media Group PLC Crispin Lilly	Tel: [phone]
Canaccord Genuity Limited - Nominated Adviser and Broker   Bobbie Hilliam Richard Andrews Georgina McCooke	Tel: [phone]

 

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