Trading Update

RNS Number : 7468D

Everyman Media Group PLC

11 July 2016

 

Everyman Media Group plc

('Everyman' or the 'Group')

Trading Update

Everyman Media Group plc is issuing this trading update prior to the intended announcement of its Interim Results on 14th September 2016 for the six months ended 30th June 2016.

The Group ended the six months to 30^th June 2016 operating 17 cinemas, with Bristol having opened during the period. Of the four Odeon sites acquired in 2015, Esher, Gerrards Cross and Barnet have now been fully refurbished, and are all trading well. The Group has just received Listed Building Consent for its venue in Muswell Hill allowing works to commence on the final stage of this refurbishment. The Group's existing sites continue to trade in line with Directors' expectations.

The Group has continued to find attractive new venue opportunities for future investment.  As previously announced contracts have now been exchanged on venues at Horsham, Durham and Wokingham. Additionally, in the run-up to the opening of the three screen Kings Cross venue in late 2017, a one screen temporary venue will open on 15 July.

In summary, the Group has performed in line with market expectations in the first six months of 2016 and, due to new sites, a significant increase in the financial performance of the Group year on year is expected.

11 July 2016

For further information, please contact:
Everyman Media Group plc Crispin Lilly	Tel: [phone]
Cenkos Securities plc (NOMAD and Broker) Bobbie Hilliam	Tel: [phone]

 

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