Cineworld rides high on 3D movies

cineworldCineworld Group Plc, the cinema chain that has presence in UK and Ireland, announced its annual results on a high note. The cinema chain has registered a higher profit in the current fiscal vis-à-vis the profits in the last financial year.

The company said in a statement that the increase in its profits was mainly driven by increased business from 3D movies. The global blockbuster Avator which was released in the Christmas week was one of the major drawers for Cineworld. For the records, Avatar was the biggest grosser of all times.

The company's market share has increased to 23. 9% in the current year compared to 23.3% in the last year. Stephen Wiener, the Chief Executive Officer of Cineworld Group Plc. asserted that the increase in its market share was largely driven by the business from the 3D films.

Cineworld released a total of 13 3D films in the last year. The cinema chain will be increasing the number of 3D movies to be screened next year to 18. Also, the company is putting up 1 02 new 3D screens. This will take the total count of 3D screens owned by Cineworld up to 265, 33% of Cineworld's total screens.

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