Everyman Media Group PLC Trading Update (8164G)
July 29 2021 - 01:00AM
UK Regulatory
TIDMEMAN
RNS Number : 8164G
Everyman Media Group PLC
29 July 2021
29 July 2021
Everyman Media Group PLC
("Everyman" or the "Group")
Trading Update
Everyman Media Group PLC, the independent, premium cinema group
provides the following trading update for the 26 weeks ended 1 July
2021
-- 33 venues re-opened safely on 17 May 2021, with Glasgow re-opening
on 6 June and Belsize Park closed for refurbishment
-- The business returned to profit and cash generation on re-opening
and for the remainder of the period, social distancing measures
remained in place until 19 July
-- GBP21m liquidity headroom
All venues were closed for the first 20 weeks of FY21 due to the
Covid-19 Lockdown. During this time, the business continued to
focus on conserving cash and preparing to welcome customers safely
back to our venues. In addition, the Company used the closure
period to upgrade a number of kitchens to improve speed of service
and carried out small refurbishments to enhance the customer
experience on re-opening.
Admissions in the period since re-opening until 1 July reached
66% of 2019 levels, ahead of director expectations. This is despite
restrictions such as the Rule of Six, table service, 50% capacity
restrictions in venues, and social distancing all being in place
during this period.
The Company is pleased to report that market share has grown
since re-opening, re-enforcing the strength of the Everyman
offer.
The Directors continue to believe that the business is well
positioned to return to pre-COVID-19 Lockdown levels of trading and
to grow beyond.
Everyman Media Group PLC expects to announce its half year
results on 23 September 2021.
Alex Scrimgeour, Chief Executive Officer of Everyman Media Group
PLC, said:
" We are delighted to have welcomed back so many Everyman
customers since re-opening in May, subsequently delivering a period
of profitable, cash-generative trading. The speed and confidence
with which the Everyman community has returned, together with our
increased market share, demonstrates the ongoing appeal of our
offering. People are clearly still looking to spend a great time
out with friends and family, in an environment which instils
confidence and provides high quality hospitality; now more than
ever.
With significant available liquidity and more positive market
conditions we are excited to be again turning our focus to plans
for growth. We're expecting you, Mr. Bond."
For further information, please contact:
Everyman Media Group plc Tel: 020 3145 0500
Alex Scrimgeour, Chief Executive Officer
Elizabeth Lake, Chief Financial Officer
Canaccord Genuity Limited (NOMAD and Tel: 020 7523 8000
Broker)
Bobbie Hilliam
Richard Andrews
Georgina McCooke
Alma PR (Financial PR Advisor) Tel: 020 3405 0205
Susie Hudson
Harriet Jackson
Joe Pederzolli
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
About Everyman Media Group PLC:
Everyman is the fourth largest cinema business in the UK by
number of venues, and is a premium, high growth leisure brand.
Everyman operates a growing estate of venues across the UK, with an
emphasis on providing first class cinema and hospitality.
Everyman is redefining cinema. It focuses on venue and
experience as key competitive strengths, with a unique
proposition:
-- Intimate and atmospheric venues, which become a destination in their own right
-- An emphasis on a strong quality food and drink menu prepared in-house
-- A broad range of well-curated programming content, from
mainstream and independent films to theatre and live concert
streams, appealing to a diverse range of audiences
-- Motivated and welcoming teams
For more information visit
http://investors.everymancinema.com/
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END
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