Regal Entertainment’s Profit Surges 43%
Theater operator Regal Entertainment Group said fourth-quarter profit surged 43% as ticket and concession sales recovered from a midyear box-office slump.
Net income for the period ended Dec. 29 rose to $35.1 million, or 23 cents a share, from $24.5 million, or 16 cents, a year earlier, Knoxville, Tenn.-based Regal said. Revenue advanced 3.9% to $668.2 million.
Regal, controlled by billionaire Philip Anschutz, boosted sales in a quarter featuring “King Kong” and “The Chronicles of Narnia” and after changing drink sizes and eliminating smaller products last year.
Regal shares rose 10 cents to $18.49.
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