Boxoffice rebound boosts CinemaxX


COLOGNE, Germany -- German multiplex group CinemaxX boosted revenues and cut losses in 2006 as the country's boxoffice bounced back.

CinemaxX on Wednesday said revenues last year jumped 10.9% to €161.9 million ($214 million), while net losses were cut in half from €7.5 million to €3.6 million ($4.8 million).

CinemaxX pointed to boxoffice figures, which show that ticket sales in Germany jumped 7.4% last year and total boxoffice increased 9.3%.

CinemaxX said it expects further growth of 2%-4% this year in both ticket sales and boxoffice in Germany.