“This was followed by congestion in the calendar on remaining blockbuster releases, with five in five weeks, leading to titles competing against each other negatively impacting the period,” the company said.
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Guest spending per head also softened during November and December, while the board is “more cautious about the outlook for 2025 and 2026” as a consequence of uncertainty arising from higher employment taxes announced in October.
Many believe that the tax rises coming into effect from April will result in lower pay increases and higher unemployment, putting a fresh squeeze on consumers’ disposable income for non-essential goods and services. This would pose yet another challenge for cinema operators following blows from the Covid pandemic, the cost-of-living crisis, and the disruption from last year’s actor and writer’s strikes in Hollywood.
Everyman chief executive Alex Scrimgeour said the company has made “operational and strategic progress” despite these challenges, and remains focused on continued organic expansion.
“We will continue to deliver Everyman’s unique brand of hospitality to our growing customer base, with two exciting openings confirmed in 2025,” he added. “We remain confident in delivering further growth, bolstered by our market leading position and continued demand for Everyman’s elevated cinema experience.”
Revenues in the 53 weeks to January 2 rose by 17.9% to £107.2m, with underlying profits down slightly at £16.1m versus £16.2m previously. Shares in Everyman were trading nearly 14% lower by late afternoon, down 7p at 43.5p.