https://www.oann.com/worlds-no-2-movie-theatre-cineworld-posts-smaller-annual-loss/?utm_source=rss&utm_medium=rss&utm_campaign=worlds-no-2-movie-theatre-cineworld-posts-smaller-annual-loss

FILE PHOTO: A Cineworld cinema near Manchester, Britain, October 4, 2020. REUTERS/Phil Noble

March 17, 2022

(Reuters) – Britain’s Cineworld said on Thursday it expects its performance to improve this year thanks to pent-up demand and a full slate of movies, after posting a smaller annual loss helped by the success of Marvel’s “Spider-Man: No Way Home”.

The world’s second-largest movie theatre operator said pretax loss narrowed to $708.3 million for the year ended Dec. 31 from $3.01 billion in 2020 when the COVID-19 pandemic began.

(Reporting by Pushkala Aripaka and Yadarisa Shabong in Bengaluru)

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