Cineplex Inc. shares traded down on Tuesday as the company saw its third-quarter profit and revenue slip lower compared with a year ago as fewer people went to the movies.
The movie theatre company says it earned $17.2 million or 27 cents per diluted share for the quarter ended Sept. 30 compared with a profit of $26.0 million or 41 cents per diluted share a year ago.
Revenue totalled $370.4 million, down from $376.0 million.
In afternoon trading on the TSX, Cineplex shares traded down almost four per cent, sliding $1.45 to $37.01.
Cineplex says attendance fell to 16.8 million compared with 19.2 million in the same quarter last year.
However, while attendance was down, customers spent more.
The company says box office revenue per patron increased to $9.81 compared with $9.65 a year ago, while concession revenue per patron also increased to $6.01 compared with $5.69 last year.