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3D technology fuels Cineworld growth
Cinema operator Cineworld has reported an 11.5 per cent increase in revenue for the 53 weeks ending 31 December 2009, as more people embraced 3D film technology.
Admissions increased by 8.9 per cent to more than 49 million and box office takings also grew by nearly 17 per cent to £230.9m during 2009, with new cinemas opened in Aberdeen and Witney, Oxfordshire. Despite a downturn in the wider advertising market, the company has revealed that it expects at least 18 new 3D films to be released during the current year to help further boost its performance.
Cineworld chief executive officer Stephen Wiener said: The excellent film slate in 2009, combined with our early investment in 3D, has contributed to an increase in our box office market share. "The New Year has started well for the Group with some carryover of the record breaking 3D film Avatar and we feel well positioned to take advantage of business opportunities which may arise in the future."
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