Everyman returns to profit with 70% jump in cinema admissions
The allure of luxury sofa seating and a menu including parsley and garlic dough balls and hot honey halloumihelped the upmarket cinema chain Everyman bounce back to profit last year.
The group, which started in Hampstead and now has 38 venues across the UK, hailed a post-pandemic return to “business as usual” as admission numbers rose by 70% to 3.4 million last year.
Revenues grew by 61% to £78.8m as film fans flocked to its cinemas to see Hollywood blockbusters including Top Gun: Maverick and Avatar: The Way of Water.
Alex Scrimgeour, chief executive at Everyman, said: “We were encouraged by strong growth in admissions in the year, marking a return to business as usual. The Everyman proposition feels as relevant as ever.”
The company’s film and entertainment revenues grew by almost 60% to £39.7m, helped by an increase in average ticket price from £11 last year to £11.29.
Everyman also pointed to the success of its food and drink offering – cinema goers can enjoy everything from Korean chicken burgers and vegan hotdogs to wine and popcorn at their seats – for helping to transform an operating loss of £2.2m in Covid-hit 2021 into a profit of £400,000.
Food and drink revenues climbed by 59% to £32.2m, accounting for 41% of total revenues, helped by average spend per head climbing from £9.07 to £9.34.
“Everyman remains a popular and affordable choice for consumers, combining great film, hospitality and atmosphere to provide an exceptional cinema experience,” said Scrimgeour.
The chain said the number of blockbuster releases had “reduced” in 2022, but noted that the Top Gun and Avatar films were among the highest-grossing films of all time, indicating that “the consumer appetite for film remains undiminished”.
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