Cineworld set for Bond boost as No Time To Die tickets go on sale

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Cineworld Group PLC (LSE:CINE) could be set for 007-boost as ticket sales for the long awaited James Bond movie No Time To Die get underway.


Anticipation for the movie is “higher than ever” according to the UK Cinema Association boss Phil Clapp, quoted in the Standard, as the industry hopes that Daniel Craig’s last outing as Bond will be sufficient to draw out less frequent cinema goers.


It is one among a number of high profile movies on the slate for the fourth quarter including multiple Marvel movies, a Top Gun sequel and a new Ghostbusters.


UK cinema operator Vue said Bond sales had got off to “a really promising start” whilst Odeon described the opening of ticket sales as a significant milestone in the recovery since the Covid lockdowns.


Cineworld shares were up 1.6% in Monday afternoon’s deals, changing hands at 63.03p.


Last month, Cineworld told investors it expects “strong trading” in its fourth quarter amid pent-up demand.


In an outlook statement accompanying its first-half results, the company said the recovery will be supported by a “strong film slate” and its actions during the pandemic meant it is “well placed for the future”.


In the financials for the six months to June 30, which included around four months of closures due to lockdown, Cineworld reported a pre-tax loss of US$576.4mln, narrowed from a US$1.64bn loss a year ago, while revenues dropped to US$292.8mln from US$712.4mln.

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