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UPDATE 1-Cineworld 2008 view helped by Mamma Mia, Dark Knight

Thu Jan 8, 2009 3:19am EST

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* Sees 2008 EBITDA in line with market estimates

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* Sees revenue for 52 weeks to Dec. 25 up 4.4 pct * Share of box office fell to 23.3 pct * Screen advertising business trading well

Jan 8 (Reuters) - Cineworld Group Plc (CINE.L), which operates 75 cinema complexes throughout the UK and Ireland, expects to report 2008 earnings in line with current market expectations, with revenue for the period up 4.4 percent.

The industry box office in the UK and Ireland grew 5.1 percent, helped by strong releases that included "Mamma Mia" and "The Dark Knight," the company, which reported revenue of 285.3 million pounds last year, said in a statement.

But the group said its share of the box office in the UK and Ireland was marginally lower at 23.3 percent, compared with 23.7 percent last year.

This decrease was partly due to the strengthening of the euro against the pound as the measured box-office figures for Ireland are reported in pounds.

Six analysts on average were expecting the company to post 2008 earnings before interest, tax, depreciation and amortisation (EBITDA) of 49.5 million pounds ($75.17 million) on revenue of 290.7 million pounds for the 2008 financial year, according to Reuters Estimates.

The company said its joint venture screen advertising business, Digital Cinema Media Ltd, continued to trade well.

Shares of Cineworld closed at 103 pence on Wednesday on the London Stock Exchange. ($1=.6585 pound) (Reporting by Tresa Sherin Morera in Bangalore; Editing by Pratish Narayanan)



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