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Cineworld is one of the largest cinema operators in Europe with about 2,000 screens across 9 countries. Reuters

Shares in Cineworld fell almost 2% early on Thursday (11 August), after the chain reported a sharp drop in interim profit on the back of currency headwinds. In the six months to the end of June, the FTSE 250-listed group posted a 34.6% year-on-year decline in pre-tax profit to £30.6m ($39.8m), which offset an 8.4% increase in revenue to £356.7m.

Cineworld said adverse currency movements costed the company £6.1m over the six months, compared with a gain of £8.9m over the corresponding period in 2015.

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However, group chief executive Mooky Greidinger said the results were in line with forecast.

"The results for the first half of the year are in-line with our expectations," he said.

"We have achieved growth in admissions, box office revenue, and retail sales, with a particularly strong performance in our Rest of the World segment, achieving double digit growth in admissions."

Cineworld, Europe's second-largest cinema chain by number of screens, remained upbeat over the outlook for the second half of its financial year and it is confident a stronger set of releases will ensure it meets its full-year targets.

A number of high-profile sporting events, such as the Euro 2016 championships and the Olympic Games, have affected release schedules this year. Last year, in contrast, Cineworld rode the wave of a number of blockbuster movies, such as Star Wars, James Bond and Jurassic Park.