Cinemaxx boosts revs, cuts losses

Exhib posts 10% increase in revenue

BERLIN — Teutonic exhib Cinemaxx saw an increase in revenue in the first half of 2006, thanks to an increase in admissions and cost-cutting measures implemented earlier this year, but the group remains in the red.

One of Germany’s leading exhib chains, Cinemaxx posted a 10% increase in revenue to E76.4 million ($96 million) and managed to narrow its loss from $12.8 million to $4.1 million.

In the first half of the year, Cinemaxx admission sales were up 8.5%, higher than the national box office average, which climbed 7.8% from the previous year.

Cinemaxx’s owners include media tycoon Herbert Kloiber, president Hans-Joachim Flebbe, Dutch exhib group Kinepolis and Senator Entertainment.

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