An independent cinema group
10-Jan-2018 – 223p – £156.2m – PER 45.5
Trading Update Results for the 52 Weeks To 28-Dec-2017 – In-line.
Still can’t justify the valuation here.
14-Mar-2018 – 193p – £135.2m – PER 39.4
Results For The 12 Months To End December 2017 – Revenue up 37% to £40.6m (2016: £29.6m) and Adjusted EBITDA up 67% to £6.6m (2016: £4.0m).
I just can’t get to this racy valuation here, are cinema’s not going to become less popular (like the high street, it’s easier to shop on-line as it is to watch a movie on-line – Sure there’s that shopping looky touchy, feel experience like cinema has it’s attractions but it didn’t help the high street).
19-Jul-2018 – 204p – £143.2m – PER 29.6
Trading Update For The 27 Weeks To 5th July 2018 – In-line.
Starting to actually like this a little more (EPS forecasts are great and if in-line, could justify this rating) but I just can’t get away from the fact so many people are preferring on-line (at home) services these days. I remain Neutral but am tempted.
5-Sep-2018 – 218p – £153.1m – PER 30.2
Interim Results For The 6 Months To 5th July 2018 – Revenue up 32% to £24.9m (H1 2017: £18.8m), Adjusted EBITDA up 35% to £4.1m (H1 2016: £3.0m), 1 new venue (now 22 venues operating 69 screens) with 12 new venues committed. Trading since the period end has continued in-line.
Looks OK and tempted as I am here – I remain Neutral for now. Still wary of more and more watching content on-line rather than going out.
17-Jan-2019 – 204p – £145m – PER 53.7
Trading Update For The 53 Weeks To 3rd January 2019 – Trading continues to be in-line.
Perhaps overvalued based on the on-going movement to on-line viewing, could be wrong though!
