RNS Number : 8962D
Lo-Q PLC
22 September 2008
Lo-Q plc
("Lo-Q" or the "Company")
Trading statement
Further to our interim announcement on 15 August 2008, trading has continued to be very
strong during the remainder of the summer
months, which has resulted in heightened sales volumes of Q-bots in the existing parks when
compared to last year. Furthermore, the two new
parks, which started operating this year, are now performing at or beyond expected trading
levels.
This had fed through to a strong financial performance, which has been further
strengthened by increased Q-bot rental prices when
compared to last year, and the strengthening of the US Dollar.
Mark Shapiro, President and Chief Executive Officer of Six Flags Inc., our major customer,
reports that he is very pleased with both
Lo-Q's operation this year and the revenue generated by the Flashpass, the name through which
the Q-bot is known in Six Flags parks; and
believes that the Flashpass is now an established part of the Six Flags brand.
Following the end of the main trading season in the theme parks in which Lo-Q has its
systems installed, Lo-Q reports that results for
the year ending 31 December 2008 will be significantly ahead of current market expectations,
with unaudited profit before tax at the end of
August standing at in excess of 100% of market forecasts. Actual final results will be
determined by the relatively small level of trading
expected during the remainder of the year.
Jeff McManus, Chairman of Lo-Q, commented:
We are very pleased with the financial and trading performance of the business. After
having been available in theme parks for over 7
years now, Q-bots are now becoming a cultural normality for theme park visitors, demonstrating
that we have a robust business going
forward.
Enquiries:
Jeff McManus, Chairman: 01491 577 210
John Prior, Arbuthnot Securities Limited: 0207 012 2000
This information is provided by RNS
The company news service from the London Stock Exchange
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