Shares in Cineworld fell almost 2% early on Thursday (11 August), after the chain reported a sharp drop in interim profit on the back of currency headwinds. In the six months to the end of June, the FTSE 250-listed group posted a 34.6% year-on-year decline in pre-tax profit to £30.6m ($39.8m), which offset an 8.4% increase in revenue to £356.7m.
Cineworld said adverse currency movements costed the company £6.1m over the six months, compared with a gain of £8.9m over the corresponding period in 2015.
However, group chief executive Mooky Greidinger said the results were in line with forecast.
"The results for the first half of the year are in-line with our expectations," he said.
"We have achieved growth in admissions, box office revenue, and retail sales, with a particularly strong performance in our Rest of the World segment, achieving double digit growth in admissions."
Cineworld, Europe's second-largest cinema chain by number of screens, remained upbeat over the outlook for the second half of its financial year and it is confident a stronger set of releases will ensure it meets its full-year targets.
A number of high-profile sporting events, such as the Euro 2016 championships and the Olympic Games, have affected release schedules this year. Last year, in contrast, Cineworld rode the wave of a number of blockbuster movies, such as Star Wars, James Bond and Jurassic Park.