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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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RCMP in Burnaby, BC, say Kinder Morgan protest camp to be dismantled today

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BURNABY, B.C. — RCMP say they will enforce a court injunction today and remove Trans Mountain pipeline protesters who have been camped outside a Kinder Morgan terminal in Burnaby, British Columbia.

Police in Burnaby say in a release that large structures at the protest camp, known as Camp Cloud, will be dismantled and the area cleaned up.

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The release says police do not expect what they call violence or disorder while the injunction is being enforced.

Protesters said Monday that several members were prepared to protect a sacred fire that’s been burning around the clock at the site, although the injunction specifically says it should be extinguished due to dry conditions.

The camp has grown since November from a single trailer to include a two-storey wooden structure, a cabin, an outdoor shower, more than a dozen tents and multiple vehicles and trailers.

On Friday, a B.C. Supreme Court judge granted the City of Burnaby an injunction ordering protesters to remove all structures, shelters and vehicles from the site outside a Kinder Morgan tank farm within 48 hours, but that deadline passed on Sunday.

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Burnaby RCMP arrest anti-pipeline demonstrators at Camp Cloud

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Burnaby RCMP moved in to enforce the injunction to remove the pipeline protesters on Burnaby Mountain on Thursday morning.

About five people have been arrested.

The demonstrators have been camped out on Burnaby Mountain for weeks, despite a court order to take down “Camp Cloud” by Sunday night.

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On Friday, a B.C. Supreme Court judge granted the City of Burnaby an injunction to remove the pipeline protest camp outside one of Kinder Morgan’s terminals.


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Kinder Morgan demonstrators ignore deadline to take down Camp Cloud

Burnaby RCMP say they have been monitoring the protest camp, located at the intersection of Underhill Avenue and Shellmont Street, adding officers have maintained a dialogue with the residents of the camp in the hopes they would obey the injunction.

“The plan is to stand our ground,” Camp Cloud resident George Manuel Jr. told Global News Monday. “We haven’t changed our tone. We are a peaceful group here.”

Burnaby RCMP say they are not expecting any violence or disorder during the injunction enforcement period but the public may see more equipment from the City of Burnaby and Burnaby RCMP removing the structures at the camp.

Photos of Camp Cloud and a second smaller camp nearby:

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Bell Media gets Viceland

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Bell Media has signed a new long-term agreement that will see it become the exclusive Canadian broadcaster for new programming from Vice Media network Viceland.

Financial terms of the deal were not immediately available.

The companies say the shows will debut on multiple Bell Media platforms, including CraveTV, in the fall.

They say new Vice shows will exclusively air on television on Bell Media channels, while it has also acquired the rights to more than 650 hours of Vice library programming.

Bell Media and Vice will also explore co-production opportunities.

The deal follows the end of a deal between Rogers Media Inc. and Vice earlier this year.

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