Cinemax has declared its consolidated FY07 result. The company's profit was up 28% at Rs 11.5 crore on YoY basis and its sales was at Rs 102 crore. Its operating profit margin was at 26%. Cinemax India has said that they are looking at one local acquisition in the Maharashtra region.Going forward, Cinemax will remain only in the exhibition business.Cinemax expect 108 screens in FY08. At the moment they have 10,800 seats and 38 screens in total.Cinemax will remain only in the exhibition business. they are developing the last mall at Nagpur. Rest of the retail area will be leased to to our retailers. After that, Cinemax is not going to develop any shopping malls in the future

May collections, at Rs 10 crore, were the highest ever. “A number of short and freaky movies have been launched and are doing very well,” he said, adding that movies like Pirates, Spiderman, Shootout at Lokhandwala and Cheeni Kum have done very well.

Average ticket prices (ATP) have increased by 20%, he said. “We feel the patron has the capacity to spend more and more as they need good entertainment in a good location. We expect this year to be very good for the industry,” Kanakia said.

Last year, there was an average rise of 20% in ATP, he said, adding that even food and beverage (F&B) spend has increased from 14% to 16%. “We are under priced and the quality of our content offerings has also improved, so we believe that the ATP will keep on rising,” he added.

The company plans to open three more properties next quarter. Kanakia said the mall at Nagpur is awaiting approvals and will open in one-one-and-a-half-month. “We have leased out the entire shopping area to retailers and the company will be starting a Cinemax there,” he added.

The average occupancy level is at 38-40%, Kanakia said. “Being an under-screened country, we expect occupancy levels to remain at these levels for the next few years,” he said.

In three years, the number of screens will touch 300 screens, Kanakia said. This fiscal the company plans to add 100 screens and take the seating capacity to 27,000, he added.

The company’s is targeting FY08 sales at Rs 160-170 crore. EBITDA margin are at 30-32% while net profit margin stands at 18-20%, Kanakia said.

The company has a local bouquet of films like Jhoom Barabar Jhoom, Harry Poter, Chuck de India, Saawariya, Om Shanti Om and Jodha Akbar lined up.