07:12 AM EST, 11/06/2024 (MT Newswires) -- Cineplex ( CPXGF ) on Wednesday said it swung to a third-quarter loss as revenue declined.

The company reported a loss from continuing operations of $24.7 million, or $0.39 per diluted share, compared with a profit of $24.5 million, or $0.34 per diluted share, last year. Revenue fell 4.6% to $396 million.

Cineplex ( CPXGF ) said the $39.2 million provision for the Competition Tribunal's administrative monetary penalty impacted the results.

Cineplex ( CPXGF ) has filed an appeal against the Competition Tribunal ruling.

"Our third quarter saw a steady stream of diverse film content which drove audiences into our theatres, resulting in box office revenues reaching 98% of 2019 levels and total revenues exceeding 2019 levels," said Ellis Jacob, President and CEO, Cineplex ( CPXGF ).