Everyman buoyed by surge in cinema visits but cautions over ‘challenging economic
Everyman has been buoyed by a surge in cinema visits but it cautioned over a ‘challenging economic environment’.
The upmarket chain, which has 49 cinemas, said there had been 2.6m admissions in the six months to July 2 – a 21 per cent increase from the year before.
This helped lift sales by 24 per cent to £70million, from £56.5million last year, in a win for bosses as they attempt to revive the group.
But it warned that: ‘While trading performance has been positive for the first half, the directors retain a degree of caution for the full year outlook due to the challenging economic environment and the significance of fourth-quarter trading to the overall annual performance of the company.’
Shares fell 2 per cent after it said it expected its 2026 performance to be ‘marginally ahead’ of last year’s.
The update underscores concerns over the cost of doing business and lacklustre consumer confidence.
Everyman: The group is considering delisting from the London stock market amid a turnaround
And it comes as new boss Farah Golant is faced with a tough turnaround job. The firm has paused expansion plans and set out plans for Everyman to quit London’s junior stock market after a dismal share price spiral.
The group said on Monday that it ‘continues to engage with stakeholders’ on a delisting and will provide a further update before the end of August.
If Everyman proceeds with a delisting, it will join a growing list of names that are eyeing an exit from the London market, either through a share delisting or a takeover.
The chain will also be pinning its hopes on a summer of blockbusters after AMC Theatres, which owns rival Odeon, has hailed a slate of big releases.
AMC Theatres said that The Odyssey – starring Matt Damon and Anne Hathaway – has had record-breaking IMAX box office sales in its first two weekends of release.
In June, the business pointed to an ‘appealing’ slate of recent releases, including Wuthering Heights and The Devil Wears Prada 2, which had helped to build ‘strong market share’.
Everyman’s woes date back to the pandemic, when cinemas were forced to close for an extended period, followed by the writers’ strikes, which limited theatrical releases.
And it has lost its appeal in recent years as cinema heavyweights Vue and Odeon installed reclining seats, while others have introduced fancier food offerings.
Golant’s background is in advertising and previously led All3Media, the television production group behind The Traitors, Midsomer Murders and Fleabag.
In April, she told The Mail and This is Money that she was ‘never going to compromise’ on Everyman’s signature features, such as its ‘iconic’ sofas.
Despite ‘intensifying’ worries over a fresh cost-of-living crisis for households triggered by the war in the Middle East, Golant said that consumers ‘won’t compromise’ on their social lives.
But they may hold off on buying cars, moving homes or booking expensive holidays, she said.
There has been a rebound in demand for what she calls ‘in real life culture’ after people were stuck at home during the Covid lockdowns and got used to their free time being ‘atomised’ in their house, Golant said.
The business is seeing its Gen Z audience ‘leading a rebound to the box office,’ she said. The cohort visits the cinema more than any other age group, with an average of around seven trips a year, according to a survey by American ticket company Fandango.
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