7 April 2011 – acquisition

The group has announced that it is to buy Cinesur, the fifth largest cinema operator in Spain.  It operates eleven multiplexes and a total of 136 screens.  The purchase is the first continental acquisition and it provides the group with a platform for growing market share in a country that is served by many smaller cinema  operators.  This is an interesting move by Cineworld and looks like the beginning of expansion overseas.  With pre-tax profits for 2011 forecast to be £38m for earnings per share of 19.4p the shares are GOOD VALUE.