Cinema operators Palace Amusement says it made a lower profit of $71.95 million for its financial year ended June 2024.
In the year ended June 2023, the company brought in $228.14 million after tax.
This was linked to higher administration expenses, finance costs and taxation.
Palace revenues were also lower at $1.39 billion; a 7.8 per cent decline to the $1.52 billion made in the similar period ended June 2023.
The performance was slowed by the extended Hollywood Writers and Actors strike, that resulted in the delayed releases of some block-buster films in the fourth quarter.
The company says with Hollywood back to work, it expects the re-scheduling and release of some previously delayed pictures to boost revenues and profitability in its first quarter.
comments powered by Disqus
All feeds
