'These films command a premium of around 150p (+60%) per ticket and therefore we feel that box office revenues could show marginal gains despite our assumption of a fall in admissions of c.2% from last year’s record levels,' says the broker.

'However, a recovery in advertising revenue is a key driver for group profitability and we feel that the outlook on this front is more upbeat.

'Comments from ITV that April advertising rates and bookings are seeing some meaningful uplift lead us to believe that advertising revenues could begin to recover especially if automobile companies return to a more proactive marketing drive during the course of 2010.'

With Cineworld's shares having moved up strongly, Altium believes the likelihood of Blackstone placing the remainder of its stake, around 20%, has risen. 'This could provide a further catalyst for share price out-performance.'

Story provided by Business Financial Newswire