BRIEF: Imax China profit jumps on global box office recovery
Big-screen cinema company Imax China Holding Inc. (1979.HK) announced on Thursday that its revenue rose 16.6% year-on-year to $107 million (762 million yuan) in the third quarter, as its net profit jumped 48% to $22.62 million.
The company said the growth was fueled by a global box-office recovery and a wider supply of Imax-format films. Revenue from image enhancement and maintenance services jumped 30% to $61.03 million, while technology rentals rose 45% to $23.34 million.
For the first nine months of the year, the company’s revenue rose 9.8% to $285 million, and its net profit jumped 67% to $43 million, reflecting stronger operational efficiency and tighter cost control. The company had $143 million in cash at the end of September, up 42% from a year earlier, while its total debt remained stable at $453 million.
The stock rose 0.39% on Friday to close at HK7.72. The shares are up about 20% over the past six months.
By Lee Shih Ta
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