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Cineworld sees revenues rise after Regal acquisition

Cineworld is now the world's second biggest cinema group by number of screens
Cineworld is now the world's second biggest cinema group by number of screens

Cinema group Cineworld has reported a 10.8% rise in revenue in the first six months of the year on a constant currency basis.

The group earned $1.86 billion - as admissions rose 5% to 158.9 million.

The results include the results of Regal Entertainment Group, which Cineworld acquired at the end of February in a $5.8 billion deal. 

That acquisition saw pre-tax profits rise 164.8% on a like-for-like basis to $160.2m.

The deal also saw the company switch its reporting currency from pound sterling to US dollar, which it says was designed to "remove the largest driver of currency translation volatility".

The combination of Cineworld and Regal created the world's second largest cinema chains in the world by number of screens.

The group operates 9,542 screens across around 800 sites in the US,  Britain, eastern Europe and Israel.

In Ireland Cineworld operates one 17 screen cinema in Dublin city centre.