Cineworld (CINE) has warned that trading for the full year will fall short of previous expectations. The cinema group saw box-office takings fall 11.6 per cent in constant currencies in the 11 months to the beginning of December, driven by a lack of big launches compared with huge hits Black Panther and Avengers: Infinity War in the prior period.
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It was not all bad news, though. The acquisition of US cinema chain Regal is now expected to yield higher cost savings than previously thought, with the group revising guidance to $190m (£146m) of run-rate synergies, from $150m previously.
