The company, led by CEO Mooky Greidinger, said its revenue rose 50 percent in July over the same month in 2020, followed by 54 percent in August, 60 percent in September and 90 percent in October. The company highlighted that it generated positive cash flow in October, calling this “an important milestone in the company’s recovery.
The company said positive revenue trends have combined with “discipline on costs” where the firm has been “focused on streamlining operations wherever possible, although we have seen some inflationary cost increases.” Greidinger touted the business trends, saying: “I would especially highlight the great performances we saw from our newly refurbished cinemas in the U.S. These new cinemas clearly support our strategy to enhance the cinema experience for all our customers. I am really proud of the extraordinary efforts that everybody in the business has made to manage this company during an unprecedented time.
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Source: CNBC - 🏆 12. / 72 Read more »