Main Event Entertainment Group is reporting 28% growth in revenues for the nine months ended July 31, 2019, compared to the corresponding period last year.
Revenues rose from $1.1 billion to $1.4 billion.
Chief Operations Officer Richard Bair, says revenue growth was driven by their sustained thrust to diversify the company’s core income stream.
He says with respect to the M Style experience, their presence in the west and the M Academy project have been material contributors to this growth.
$268 million in revenues and another $4.2 million in other income are attributable to these newer products and offerings.
Gross profits have also grown 18%, to over $603 million.
Net profits for the nine months were $108 million, up 2% over last year.
Operating and administrative expenses are up 25%, to nearly $100 million, as more material increases have occurred in depreciation charges, salaries and related costs, transportation expenses, property related costs and office expenses.