Janet Yang Joins Imax China as Company Profits Stage Post-COVID Rebound
variety.comPatrick Frater Asia Bureau Chief Janet Yang, the Los Angeles-based producer and president of the Academy of Motion Pictures Arts and Sciences, has been appointed as an independent non-executive director to the board of Imax China, a subsidiary of premium large format cinema company Imax that has its own share listing on the Hong Kong Stock Exchange.
The company, Wednesday, reported a return to net profits of $27.5 million for the 2023 calendar year. That compared with net profit of $10.8 million in 2022.
Revenues rebounded too, from $73.3 million to $87 million. The 2022 results were also undermined by a more than $19 million loss related to currency hedging.
Imax China said that on a “total comprehensive income” basis, 2023 was profitable to the tune of $24.7 million, compared with losses of $8.7 million in 2022.
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