Palace Cinemas multiplexes profit down

Prague, Oct 16 (CTK) - Palace Cinemas Czech, a company running six multiplexes in Prague and Brno, saw net profit fall to Kc19.3m last year from 2007's Kc47.6m, and its sales decreased by Kc3m to Kc528m, according to the company's annual report made public in the Collection of Documents. The fall in sales was caused by lower advertising incomes - by some Kc10m to Kc51.5m. Some rival multiplexes also registered lower sales from advertising. Experts say less money spent on cinema commercials has been caused by the economic crisis. Most of Palace Cinemas Czech revenues came from the sale of tickets which generated Kc357m, Kc4m more than in 2007. Sale of refreshments brought in Kc94.5m, up Kc2m. The company kept its leading position on the market in both cities where it is active, in attendance as well as in sales. Rival... [read full story]                    

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