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World’s No.2 movie theatre Cineworld posts smaller annual loss -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – A Cineworld Cinema near Manchester, Britain on October 4, 2020. REUTERS/Phil Noble

(Reuters). British Cineworld announced Thursday that they expect their performance to rise this year, thanks to more demand and a wide range of films. The company had suffered a less severe loss last year after Marvel’s successful “Spider-Man: No Way Home” movie.

Pretax losses at the world’s second largest movie theatre operators fell to $708.3 Million in the 12 months ended December 31st, compared with $3.01 Billion in 2020. This was after the COVID-19 pandemic.

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