World’s second-largest cinema chain Cineworld posts smaller annual loss By Reuters

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© Reuters. FILE PHOTO: A Cineworld cinema near Manchester, Britain October 4, 2020. REUTERS/Phil Noble

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(Reuters) – Britain’s Cineworld said on Thursday it expects its performance to improve this year on pent-up demand and a full slate of films, after posting a smaller annual loss on the back of the success of Marvel’s “Spider-Man: No Way Home”.

The world’s second-largest cinema operator said pre-tax loss narrowed to $708.3 million for the year ended Dec. 31, from $3.01 billion in 2020 when the COVID pandemic -19 started.

(The story refiles to add the deleted word “chain” in the title.)

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