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Cinema owner expects strong sales

Cinema owner Amalgamated Holdings expects a strong sales in coming months as it rolls out the latest Star Wars, James Bond and Hunger Games films.

The next instalments of the Star Wars, James Bond and Hunger Games movies are expected to help drive further profit growth for the company behind Event Cinemas.

Amalgamated Holdings, which also owns the Rydges and QT hotel chains and Thredbo Alpine Resort, has enjoyed a 37 per cent rise in earnings in the first quarter of the financial year, managing director David Seargeant told its annual general meeting on Friday.

That follows a record annual profit of $109 million in the 2014/15 year.

Mr Seargeant said the company's Event, Greater Union and Birch Carroll & Coyle cinema chains continue to perform strongly, along with its hotels amd resorts.

"In addition, Thredbo achieved additional growth over the very successful prior year with a strong 2015 ski season," he said.

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The company's short term outlook looks strong, particularly with the new James Bond movie Spectre and the final Hunger Games instalment opening in November, followed by the hugely anticipated Star Wars: The Force Awakens on December 17.

Amalgamated Holdings shares were up 67 cents, or 4.96 per cent, at $14.18.


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Source: AAP



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