MCS - Reading International shares rally on Q4 beat and reopening of cinema

Reading International ([[RDI]] +7.5%) shares jump on Q4 beat despite revenue declined 81% Y/Y.The company has reopened 86% of its global cinema operations: 92% in Australia, 79% in the U.S. and 100% in New Zealand.The company is marketing for sale Royal George Theatre in Chicago and our Auburn Redyard Centre and will be developing a new capital allocation strategy and focusing on building value in real estate assets in Wellington ((NZ)), Cannon Park ((QLD)), Newmarket Village ((QLD)), Cinema 1,2,3 property in NYC and Viaduct properties in Philadelphia“Today, we are happy to report that 100% of our cinemas in New Zealand (except Courtenay Central which remains temporarily closed due to seismic concerns), 92% of our cinemas in Australia, and 79% of our cinemas in the U.S. are open and operating and guests are returning to the cinemas. And, we continue our policy of cautious growth: on December 22, 2020, we opened a new six-screen Reading Cinemas featuring a TITAN LUXE with DOLBY ATMOS immersive sound, recliner

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Reading International shares rally on Q4 beat and reopening of cinema