FY15 finals are 1% ahead of expectations at the EBITDA level and >6% at the EPS level virtue of a lower depreciation and tax charge vs our/market expectations. We understand the start to FY16 has been solid and management remain confident about the site pipeline. We note an interim FD for 12 months has been found, but the fact that the role will pass onto an internal candidate from the old Cinema City business post this period we suspect will have mixed investor reaction today. We envisage 3-4% ....
10 Mar 2016
2015 results ahead of expectations and most key issues addressed
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2015 results ahead of expectations and most key issues addressed
FY15 finals are 1% ahead of expectations at the EBITDA level and >6% at the EPS level virtue of a lower depreciation and tax charge vs our/market expectations. We understand the start to FY16 has been solid and management remain confident about the site pipeline. We note an interim FD for 12 months has been found, but the fact that the role will pass onto an internal candidate from the old Cinema City business post this period we suspect will have mixed investor reaction today. We envisage 3-4% ....