Regal Entertainment Profit Rises 86%
From Bloomberg News
Regal Entertainment Group, the world’s largest operator of movie theaters, said fourth-quarter profit rose 86% as it added theaters and benefited from an additional week during the period.
Net income rose to $58.8 million, or 40 cents a share, from $31.7 million, or 23 cents, a year earlier, Centennial, Colo.-based Regal said. Revenue rose 25% to $683.8 million, as it boosted ticket prices and added 554 screens by buying 52 theaters.
Shares of Regal rose 60 cents to $20.40 on the New York Stock Exchange.
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