Cineplex benefits from tough times - Metro US

Cineplex benefits from tough times

Cinema It seems Canadians are turning to the silver screen in their search for a silver lining.

Cineplex Galaxy Income Fund, Canada’s leading movie-house operator, posted blockbuster profits Thursday as recession-weary consumers flooded cinema turnstiles in the last three months of 2008.

A lineup of marquee titles during the holiday season lifted the chain to a $7.1-million profit, up from a $2.8-million loss in the same period last year.

That helped Cineplex Galaxy post an annual profit of $34.6 million — a 30.6 per cent increase over last year.

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