Cineworld set for boost as No Time to Die opens


The long wait for Bond is over and investors in Cineworld Group PLC (LSE:CINE) will be hoping it’s the catalyst to boost revenues.

No Time to Die, the last Bond movie to star Daniel Craig, opened in cinemas today after an eighteen-month delay.

Cinema operators earlier this month said that pre-sales were strong and that anticipation for the movie was high.

Previously, in a trading update, Cineworld told investors it expected “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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