Mixed fortunes for NZ cinema chains

Mixed fortunes for NZ cinema chains
The "Barbie" movie helped Hoyts boost its profit last year.
Daniel Dunkley
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...

More Markets

NZX 50 ends the week down 1.5% in flurry of index reweighting
Markets Market close

NZX 50 ends the week down 1.5% in flurry of index reweighting

The S&P/NZX 50 index dropped 89.42 points, or 0.8%, to 11,682.39.

Paul McBeth 21 Jun 2024
KMD Brands guidance undershoots analysts' forecasts
Retail

KMD Brands guidance undershoots analysts' forecasts

Group sales between February and May have fallen 8.4% year-on-year.

Analysts downgrade Channel Infrastructure
Infrastructure

Analysts downgrade Channel Infrastructure

The move follows BP's selling its stake.

Ian Llewellyn 21 Jun 2024
NZ shares rally as economy edges out of recession
Markets Market close

NZ shares rally as economy edges out of recession

The S&P/NZX 50 index rose 100.62 points, or 0.9%, to 11,771.81.

Paul McBeth 20 Jun 2024