Exec returning to manufacturing industry
SYDNEY — Chris Gallaher is ankling as chief exec of Village Roadshow’s exhibition arm, which operates 1,077 screens in 10 countries.
Replacing him is Kirk Senior, who has been upped from chief financial officer.
Gallaher is returning to the manufacturing industry.
Village has shrunk its exhib empire in the past five years, pulling out of France, Thailand, India and its jointly owned sites in the U.K., as it focuses on co-producing Hollywood movies with Warner Bros.
In the six months to Dec. 31, the company reported a 4% drop in admissions to 32.7 million at its cinemas, with strong contributions from Italy and Singapore and weaker results in Greece and New Zealand. The exhib unit’s pre-tax profits fell by 18% to A$11.1 million ($8.8 million) on revenues of $188 million as a $2 million gain from the sale of its Taiwan circuit was all but wiped out by losses in Germany and Austria.
Village’s film production division rang up a net profit of $3.5 million on revenues of $159 million, sharply down from the corresponding period a year ago, when there were more releases.