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Fri 25th Mar 2022 - Update: Everyman looks to accelerate openings, drink sales hit 2022 high
Everyman looks to accelerate openings programme with admissions returning to pre-covid levels: Cinema operator Everyman is looking to accelerate its openings programme as it reported admissions are returning to pre-covid levels. Group sales for the year ending 30 December 2021 were up 102% to £49.0m (2020: £24.2m), with 24 weeks normal trading, nine weeks of reduced capacity, and 19 weeks full closure, compared with ten weeks of normal trading conditions, 17 weeks of disrupted trading due to covid-19 restrictions and 25 weeks of full closure in 2020. Admissions increased 67% to 2.0 million (2020: 1.2 million). Admissions are returning to pre-covid levels, with second half admissions 97% of 2019 levels on a non-like-for-like basis. Average ticket price was £11.44 (2020: £11.81), which has been adjusted to remove the benefit of VAT reductions, while spend per head of £8.96 (2020: £7.08) Operating loss reduced by 88% to £2.2m (2020: £18.8m). Since reopening on 17 May 2021, the group has been adjusted operating profit positive and operating cash generative each month. Everyman has an estate of 36 venues, with one new venue at Borough Yards opened in December 2021. The total number of screens now operated by the group is 119 (2020: 117). It has a committed pipeline for 2022 of four new venues – Edinburgh, Plymouth, Marlow, and Egham. At the year end, the group had cash of £4.2m (2020: £0.3m) and net debt of £8.4m (2020: £8.7m). Liquidity headroom is £24.6m. The company stated: “We are optimistic for the coming year, with customers continuing to appreciate the unique Everyman experience. Alongside this, a strong and varied film slate is anticipated, with a good mix of both the major releases and the well-watched independent films that our customers enjoy. So far in 2022 admissions momentum has continued and we remain focused on delivering quality customer service throughout food, drink, staff and film.” Chief executive Alex Scrimgeour added: “Despite more twists and turns than Kenneth Branagh's ‘Death on the Nile’, these last two years have conclusively proved our belief that Everyman has an enduring place at the hearts of the communities we serve. Thanks in no small part to our loyal customers, we have achieved remarkable levels of admissions, profitability, market share and customer satisfaction since government-imposed restrictions were lifted. We continue to invest in our venues, our people and enhancing the Everyman proposition. Off the back of a return to quasi business as usual, our outlook is increasingly optimistic, consequently we will be looking to accelerate our openings strategy in the short and medium term. Of course, none of this would be possible without our incredible venue teams and head office who have worked tirelessly and selflessly throughout.” 

Number of experiential concepts set to join updated Premium Database of Multi-Site Companies: A number of experiential concepts are among the 69 new multi-site companies being added to the next edition of the Propel Premium Database of Multi-Site Companies, which will be released on Friday, 1 April, at midday. The updated Propel Multi-Site Database, which is produced in association with Virgate, features Metrix, which was founded by Tim Worboys, and provides “technology-inspired competitive football experiences”. Also added is four-strong Electric Gamebox, which was founded by Will Dean and David Spindler, and offers interactive digital rooms featuring projection mapping, touch screens, motion tracking and surround sound to enjoy a hyper-immersive 60-minute gaming adventure. In addition, state-of-the-art racing simulation concept, Kindred Concepts, which was founded by Adam Breeden, will be featured. Meanwhile, Topgolf, the golf entertainment brand founded by twin brothers Steve and Dave Jolliffe, and currently has three sites in the UK, which are in Essex, Surrey and Watford, is included. Premium subscribers will also receive a 5,155-word report on the new additions to the database. The comprehensive database is updated monthly and provides company names, the people in charge, how many sites each firm operates, its trading name and its registered name at Companies House if different. It features more than 2,000 companies. Premium subscribers will also receive the eighth edition of the New Openings Database, which is produced in association with StarStock, on Friday, 8 April, at midday. It focuses on newly announced openings and upcoming launches in the sector and is updated every month. The eighth edition also includes a 17,000-word report on the new additions to the database. Premium subscribers also receive access to another database – the Propel Turnover & Profits Blue Book, which is produced in association with Mapal Group. The Blue Book, which is also updated monthly, provides an insight into UK operator turnover and profitability over five years, profit conversion and directors’ earnings. Premium subscribers are also to be given exclusive access to a new database early next month. The UK Food and Beverage Franchisor Database will be an exhaustive guide to the companies offering a food and beverage franchise in the UK and be updated every two months. The first edition will feature more than 100 companies, providing insight on the offer, locations, cost and other key details. The first edition provides almost 25,000 words of content. Companies can now have an unlimited number of people receive access to Propel Premium for a year for £895 plus VAT – whether they are an operator or a supplier. The single subscription rate is £445 plus VAT for operators and £545 plus VAT for suppliers. Email jo.charity@propelinfo.com to upgrade your subscription. Subscribers also receive access to Propel’s library of lockdown videos and Friday Wrap interviews and now also have access to a curated video library of the sector’s finest leaders and entrepreneurs, offering their insights on running outstanding businesses in the sector. Premium subscribers also receive their morning newsletter 11 hours early, at 7pm the evening before our 6am send-out; regular video content and regular exclusive columns from Propel group editor Mark Wingett.

Out-of-home drink sales hit 2022 high: Last week’s out-of-home drinks sales were 7% up on pre-pandemic levels, CGA’s latest Drinks Recovery Tracker reveals. The figure – for average drinks sales by value in Britain’s managed pubs, bars and restaurants over the week to last Saturday (12 March), compared to the same week in 2019 – marks the best performance of 2022 so far. After several weeks of parity with pre-pandemic levels, it suggests the drinking-out market’s recovery is building momentum. However, with inflation currently running at 6% for the last year alone, sales remain well below pre-pandemic patterns in real terms. Last week’s trading was boosted by St Patrick’s Day celebrations, with drinks sales on Thursday (17 March) up by 37% on the same day in 2019. Sales kept well ahead on both Friday (up 7%) and also Saturday (up 11%) where the final round of Six Nations rugby fixtures boosted revenue. Across the week, spirits sales were 25% up on the same period in 2019, while beer (up 7%) and cider (up 10%) recorded year-high growth as well.

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