Everyman above market expectations

Everyman Media Group says trading for the 52 weeks to 29 December has been above market expectations.

It says a combination of factors contributed to these results including the better than anticipated performance of some of its new venues and continued improvements in existing locations.

An update says: "2016 saw the six new venues and two refurbishment projects from 2015 start to mature, and in addition the Company opened four new venues. The most recent opening has been in Chelmsford in December (5 screens) and the Company's 20th location - representing a 100 per cent increase in estate size over the past two years. Other new venue openings during the year included Harrogate (September, 5 screens) and Bristol (May, 3 screens) as well as our temporary single screen "pop-up" venue at Kings Cross (ahead of our main venue opening there late 2017).

"The Company has continued to find attractive new venue opportunities for future investment and the directors are increasingly confident of further growing this attractive pipeline. Since our last announcement in September 2016, contracts have now been exchanged on a venue in Edinburgh, a five screen location as part of the new St James Development bringing our total committed pipeline back to six after our recent openings. In addition to Kings Cross, we will open our new venue in Stratford-upon-Avon this year."

The directors expect this momentum to continue into 2017.