Cineworld announces rising profits

<p>Profits are up at the Cineworld chain.</p>

The Cineworld chain of cinemas has confirmed a rise in its profits today (August 15th).

It was announced by the company that it made £131 million at the box office in the first six months of the year, which was up more than ten per cent on its last financial report.

Pre-tax profits were revealed by the firm to be up 33 per cent compared with last year after a rise to £17.9 million.

Cineworld said the success of movies such as Les Miserables, Iron Man 3, The Croods, The Great Gatsby, Django Unchained and Argo helped to push its takings higher.

Cineworld chief executive Stephen Wiener said the strong results represent a "resilient investment in challenging economic times" and stressed the future looks good for the company with films such as The Wolverine out in the second half of 2013.

The company has drawn criticism in recent weeks after it emerged many of its workers are employed on zero-hour contracts, giving them fewer employee rights than full-time staff.

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