CinemaOne Limited

What it is

CinemaONE Limited provides digital cinema entertainment in Trinidad and Tobago, operating through two business segments — CinemaONE Limited and CINECentral Limited — running movie theatres under the IMAX, Gemstone, CINECENTRAL, and 4DX brand names.

The company entered the national cinema landscape in August 2011 with the island’s first IMAX 3D digital screen at One Woodbrook Place, Port of Spain — the only theatre of its kind in the English-speaking Caribbean at the time. It later rebranded from Giant Screen Entertainment Limited to CinemaONE Limited, adding the country’s first dine-in cineplex (Gemstone Cinemas) and then a 4DX auditorium at the Port of Spain flagship, followed by a second site at Gulf City Mall in 2022.

In September 2023, CinemaONE took the bold step to add a third location at Price Plaza, Chaguanas, named CineCENTRAL, to offer a mainstream, affordable movie experience. It was the first company ever to list on the TTSE’s SME (small and medium enterprise) market, which it joined in November 2018.

Who owns it

Giant Screen Entertainment Holdings Limited is the controlling shareholder, owning 4,555,756 ordinary shares — 56.9% of the company. Brian Jahra and Ingrid Jahra jointly control Jahra Ventures Limited, which in turn owns 60% of Giant Screen Entertainment Holdings Limited.

The Hadeed family — Christian Hadeed (33.4%) and Gerald Hadeed (66.6%) — own CGH Limited, which holds the remaining 40% of Giant Screen Entertainment Holdings Limited.

In practical terms, the Jahras (as co-founders) and the Hadeeds (through their insurance holding company) together hold effective control of roughly 57% of CinemaONE’s listed shares via Giant Screen Entertainment Holdings. The top 16 shareholders collectively own 93.71% of the company, leaving a very thin free float — which explains the stock’s near-zero daily trading volume on TTSE.

Who runs it

Ingrid E. Jahra (BA, MBA) is a co-founder of CinemaONE Limited and serves as its Chief Executive Officer, Company Secretary, and Director.

Brian Jahra serves as Executive Chairman. Ingrid Jahra is also the Chairperson of the Board of Film Censors of Trinidad and Tobago.

A dedicated CFO is not disclosed in available sources; the 2024 annual report lists PricewaterhouseCoopers as auditor. Board member Kurt Valley brings over 20 years of financial services experience, including investment banking, securities trading, and treasury management.

The money, in plain words

For the financial year ended September 30, 2024, gross revenue climbed 12% to TT$20.0M (US$2.97M) — the company’s first-ever TT$20M annual revenue milestone. That growth, however, came at a cost: higher operating costs from managing three cineplex sites produced an operating loss, and the net loss for the year was TT$7.4M (US$1.10M) — a net margin of –37% (our calculation), meaning the company spent roughly TT$1.37 for every dollar it earned.

Current liabilities exceeded current assets by more than TT$10M at year-end, a working-capital deficit that prompted auditors PricewaterhouseCoopers to flag a material uncertainty about the company’s ability to continue as a going concern. PwC stated the factors “indicate that a material uncertainty exists that may cast significant doubt on the group’s ability to continue as a going concern,” though it did not alter its overall view of the company’s financial health.

The funded-debt-to-(funded-debt-plus-equity) ratio stands at 69.7% — meaning just under 70 cents of every dollar of the company’s capital structure is borrowed money, a leverage level that tightens the margin for error. The share price of TT$4.68 is less than half the IPO price of TT$10.00, also trailing behind the rights issue price of TT$7.50.

What it is doing now

For the nine months ended June 30, 2025, the group regained momentum, with gross revenue up 3% to TT$15.0M versus TT$14.5M in the prior-year period. Operating profit turned positive at TT$0.5M (versus a prior-year operating loss), and the net loss narrowed sharply to TT$2.8M from TT$5.0M — a meaningful improvement in trajectory.

In the first quarter of FY2026 (three months ended December 31, 2025), however, consolidated net revenue declined 13% to TT$4.0M, with a net loss of TT$2.2M, reflecting a slow start blamed partly on a weak global film release slate. Management is actively engaged in debt refinancing discussions expected to supply capital expenditure and working capital financing in the range of TT$4–5M.

What to watch

• Going-concern resolution. Sequential years of net losses, constrained liquidity, and negative working capital of TT$10M are the core risks flagged in the audited statements. Whether the planned debt refinancing closes — and on what terms — is the single most important near-term question.
• Hollywood supply pipeline. Management notes that all major studios have announced significant increases in theatrical releases for 2025, 2026, and beyond, following the end of the 2023 writers’ and actors’ strikes that deferred numerous major titles. A stronger film slate directly drives ticket sales and concession revenue.
• Three-site economics. The company says that, for the first time since the COVID-19 pandemic, attendance volume and revenue have surpassed pre-COVID 2019 results. Whether the third location (CineCentral, Chaguanas) moves from drag to contributor is the key internal operational test.
• Free-float liquidity. With top shareholders holding 93%+ of shares, the stock is thinly traded; any meaningful capital raise or secondary offering would be a structural shift worth watching.

This is news, not investment advice.