Mixed fortunes for NZ cinema chains

The "Barbie" movie helped Hoyts boost its profit last year.

Thu, 23 May 2024

The “Barbenheimer” box office phenomenon fuelled a profit increase for movie chain Hoyts last year, but wasn’t enough to save Reading Cinemas from a $7.6 million loss.Hoyts's net profit after tax in NZ rose to $2.6m in the year to December 31 2023, up from $2.1m in 2022, following a string of US blockbuster hits, according to the company’s latest annual accounts.HCH Bidco, the NZ business owned by the Australia-headquartered Hoyts, cited the performance of Christopher Nolan’s Academy Award-winning “ Oppen...

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