Cinema chain, Odeon has reported a pre-tax profit of £14.5m for the first half, compared to a £39.9m pre-tax loss in the same period last year.
Terra Firma owns the 243-strong European cinema chain, and chairman Guy Hands said in February he would try to sell the company towards the end of the year.
The firm saw a 17.7% rise in first-half revenues to £348.7m and an increase in market share by 1.1% to 19.2%.
Odeon’s net debt fell from £466m in the first half of 2014 to £435m this year — the cost of the debt has been weighing on profits before tax — while EBITDA rose 102.1% in the first half of the year to £37.3m.
The group is investing in three new cinemas in the second half situated in Dublin, Naples and Bolzano, but will lose the Odeon Kensington to a property development.
The James Bond film, Spectre, and Star Wars: The Force Awakens are expected to perform strongly at the box office in the second half.