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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Cineworld Group plc    CINE   GB00B15FWH70

CINEWORLD GROUP PLC

(CINE)
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Cineworld : Anchorage theatres to shut as chain closes down nationwide

10/06/2020 | 09:40am EST

ANCHORAGE, Alaska — The temporary closure of a nationwide movie theatre chain is expected to result in the indefinite closure of three theatres in Alaska's largest city.

A trio of Regal Cinemas theatres in Anchorage are scheduled to close Thursday, The Anchorage Daily News reported Monday.

Regal, part of the Cineworld Group, said in a statement it will suspend all operations in the U.S. and the United Kingdom beginning Thursday.

Regal is the second-largest cinema chain in the U.S. and initially closed throughout the country in March in accordance with health mandates to curb the spread of COVID-19.

The three Anchorage theatres — at the Dimond Center mall, the Tikahtnu Commons shopping centre and Muldoon Road — as well as a Regal theatre in Fairbanks, have since reopened.

The new closure will leave only Regal's Century 16 and XD theatre in Anchorage open with new safety measures including mandatory face masks.

Numerous movie premieres have been postponed during the pandemic and keeping theatres open is difficult without new releases, the company said.

Regal has experienced significant financial losses since the coronavirus outbreak.

It was not immediately clear how many people are employed in Alaska by the Cineworld Group, but the closure impacts 45,000 employees throughout the company.

A decision about reopening will heavily rely on when "studios are able to bring their pipeline of major releases back to the big screen,” CEO Mooky Greidinger said in the company's statement.

For most people, the new coronavirus causes mild or moderate symptoms, such as fever and cough that clear up in two to three weeks. For some — especially older adults and people with existing health problems — it can cause more severe illness, including pneumonia, and death.

The number of infections is thought to be far higher because many people have not been tested, and studies suggest people can be infected with the virus without feeling sick.

© 2020 The Canadian Press. All rights reserved., source Canadian Press DataFile

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Financials
Sales 2020 1 105 M 1 475 M 1 475 M
Net income 2020 -1 453 M -1 938 M -1 938 M
Net Debt 2020 6 154 M 8 210 M 8 210 M
P/E ratio 2020 -0,54x
Yield 2020 1,77%
Capitalization 782 M 1 043 M 1 043 M
EV / Sales 2020 6,27x
EV / Sales 2021 2,95x
Nbr of Employees 30 000
Free-Float 72,6%
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Mean consensus HOLD
Number of Analysts 10
Average target price 60,00 GBX
Last Close Price 56,94 GBX
Spread / Highest target 66,8%
Spread / Average Target 5,37%
Spread / Lowest Target -56,1%
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Managers
NameTitle
Moshe Joseph Greidinger Chief Executive Officer & Non-Executive Director
Alicja Kornasiewicz Chairman
Matthew Eyre Chief Operating Officer
Nisan Cohen Chief Financial Officer & Executive Director
Eric Hartley Senat Senior Independent Non-Executive Director
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