Cineplex profit jumps on higher attendance, more spending per person - Canadanewsmedia
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Cineplex profit jumps on higher attendance, more spending per person

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Cineplex says its adding at least five more immersive, virtual reality experience centres in Canada over the next several years. A man travels down an escalator during the Cineplex Entertainment annual general meeting, in Toronto on May 17, 2017. THE CANADIAN PRESS/Nathan Denette

Nathan Denette/The Canadian Press

Cineplex Inc. had $24.4-million of net income in the second quarter, beating analyst profit estimates, as total revenue increased by 12.4 per cent from last year and the company made progress on its cost-reduction efforts.

The Toronto-based cinema and entertainment company says revenue for the three-months ended June 30 was $409-million, a record high for the second quarter.

Attendance was up five per cent from last year, increasing box office revenue by 9.7 per cent to $187.2-million, while revenue from food services jumped 14.6 per cent to a record $114-million.

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Box office revenue per patron rose 4.4 per cent to $10.82 and concession revenue per patron rose 9.3 per cent to $6.59.

Cineplex also generated increased revenue from its media and amusement business units.

The company’s net income amounted to 38 cents per share, compared with two cents per share or $1.4-million in last year’s second quarter.

Analysts had estimated $414 million of revenue, 24 cents a share of net income and 24 cents a share of adjusted earnings, according to Thomson Reuters Eikon.

“Cineplex reported record second quarter results including increases in revenue across all reportable segments,” president and CEO Ellis Jacob said in a statement

“In addition to growing our revenue sources, we continue to focus on optimizing our cost structure across our ecosystem, having implemented a cost reduction program during the second quarter with the expectation of realizing annualized cost savings of $25.0 million by the end of the year.”

The company announced in April that it would lay off “a number of” full-time workers to eliminate duplicate roles following several business acquisitions.

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BC government to bring lower transgender surgery to the province

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VANCOUVER — Gwen Haworth says she always knew her gender identity, even when she was very young, but coming out about 18 years ago was a hard choice made even harder by a lack of services in her home province.

Between 2001 and 2004, Haworth said she went back and forth between Montreal and British Columbia to get gender-affirming surgery.

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The difficulties Haworth faced will soon be a thing of the past after the British Columbia government announced Friday it will provide reconstructive lower surgery for transgender people.

“Access to care was pretty fragmented, and very challenging, and hard and time consuming and costly,” said Howarth, a member of the trans community and project manager for Trans Care BC.

Health Minister Adrian Dix said the trans community has advocated for a number of years for the complex surgery to be done in the province.

Up until now, those wanting the surgery had to travel to Montreal or the United States, which Dix said resulted in additional medical risks associated with travelling long distances after surgery and with follow-up care.

The Health Ministry says gender-affirming surgery will be available at Vancouver Coastal Health starting next year and trans people will also have improved access to publicly funded chest and breast surgeries in Burnaby, Kamloops, Kelowna, Port Moody, Prince George, Vancouver and Victoria.

Dix said B.C. is the first province in Western Canada to provide lower surgery.

The government says about 100 people travel out of the province for lower surgeries every year and about 200 chest and breast surgeries are expected to take place in B.C. in the coming year.

Haworth said improving access to care will have a ripple effect through society.

Gender affirming surgeries, where a person’s physical body is brought into alignment with how they identify, whether it’s male, female or non-binary, came with a stigma, she said, but Friday’s announcement fosters a welcoming environment.

“It improves people’s lives and health outcomes.”

During those three years when she needed care, Haworth said the costs came in many forms. Time was taken away from her family, friends, education and work. She said she had to pay for some services herself and getting reimbursed was a challenging process. Haworth said out-of-pocket expenses worth about $35,000 were never paid back.

She also had to sell her home.

“And when I look at the place I owned at that point in time, and I move 15 years forward in the Vancouver housing market, that means I actually had to say no to over a quarter million dollars of potential well-being at this point in my life.”

The Health Ministry says the surgeries will be covered as part of the province’s B.C. Surgical and Diagnostic Imaging Strategy, which is getting a $25 million funding increasing in 2019-20 to $100 million.

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BC becomes first western Canadian province to fund gender-affirming lower surgeries

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Starting in 2019 transgender people in British Columbia will have access to publicly funded gender-affirming lower surgeries within the province. With the change British Columbia will become the first province in western Canada to offer these procedures.

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“The trans community has advocated over a number of years for improved access to care, including access to complex lower surgeries within B.C.,” Minister of Health Adrian Dix said. “For those seeking lower surgery, people were required to travel to Montreal or to the U.S., resulting in additional medical risks associated with travelling long distance after surgery and in receiving followup care if there were complications.”


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The reconstructive surgeries will be available from Vancouver Coastal Health starting next year. The province has also expanded the access to gender-affirming chest and breast surgeries.

A total of 14 surgeons will provide chest and breast surgeries in Burnaby, Kamloops, Kelowna, Port Moody, Prince George, Vancouver and Victoria. Previously, people had to travel to Vancouver or Victoria.


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“We are proud to be the first province in western Canada to provide these surgeries,” Dix said.

“While B.C. funded these surgeries, they weren’t being delivered close to home and support systems, and that is what we are changing now. This is about bringing care closer to home and offering an enhanced, more efficient, cost-effective solution.”

The B.C. government said the number of people travelling out of province for lower surgeries has been steadily increasing each year with approximately 100 people going outside of British Columbia for care annually. The government is now forecasting that over 200 chest and breast surgeries are expected to take place throughout B.C. in the coming year.

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“Having personally travelled out of province to access similar care, this is a significant step forward in improving the patient journey for British Columbians requiring these procedures,” trans educator Gwen Haworth said.

“Offering services closer to home reduces additional stress, uncertainties and expenses for individuals and their families. It’s reassuring to know that we will have improved access to experienced care providers throughout the entire process, within our home province.”

The expansion will be funded as part of the new B.C. Surgical and Diagnostic Imaging Strategy. The Ministry of Health has allocated $75 million in 2018-19 and $100 million in 2019-20.


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Around 1 per cent of the population, an estimated 46,000 people in B.C., identifies as trans, a term that describes a wide range of people whose gender differs from their assigned sex at birth.

Between 2014 and 2018, the number of gender-affirming chest and breast surgeries performed annually has more than tripled, from 56 to 178. During the same time period, the number of annual referrals for chest and breast surgeries has doubled, from 179 to 376.

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BC to offer gender-affirming surgeries for transgender people

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Transgender people in B.C. will have access to gender-affirming lower-body surgeries within their home province as early as 2019.

On Friday, Health Minister Adrian Dix said the surgeries will be available in the Vancouver Coastal Health region next year.

Chest and breast surgeries, which have only been available in Vancouver and Victoria, will also be expanded to cities in the Lower Mainland, Kamloops, Kelowna and Prince George.

“For those seeking lower surgery, people were required to travel to Montreal or to the U.S., resulting in additional medical risks associated with travelling long distance after surgery and in receiving followup care if there were complications,” Dix said.

READ MORE: Health and safety are issues for trans youth: University of B.C. survey

READ MORE: X gender identity now recognized on B.C. IDs

In B.C., an estimated 46,000 people identify as trans or gender diverse. About 100 people travel outside of the province each year for lower-body surgeries – a number that has increased steadily.

In-province surgeries reduce barriers, says educator

Gwen Howarth was one of the hundreds of British Columbians forced to travel to undergo lower-body surgery, after coming out as transgender in 2000.

“At the time, access to care was more limited and required jumping through additional hoops. Navigating through this was challenging, costly and time-consuming,” Howarth, who works with Trans Care BC, said at Friday’s news conference.

“This impacted my ability to focus on other areas of my life, and put a strain on my relationship with my family and friends and loved ones who no doubt had to listen to my endless venting about barriers to health care.”

Howarth travelled to Montreal for surgery in 2004. She was able to afford flights and accommodations while recovering, but said many in B.C. are unable to meet the high costs and have to travel alone.

“As anyone knows who has been through a significant surgery, it can be nerve-wracking and a vulnerable time.”

Howarth said the government’s move is a major step to reducing cost barriers and the stigmas faced by the trans community.


@ashwadhwani
ashley.wadhwani@bpdigital.ca

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