Lo-Q is honoured with Queen's Award

RNS Number : 3156F

Lo-Q PLC

21 April 2011

 



21 April 2011

Lo-Q plc

("Lo-Q" or "the Company")

LO-Q IS HONOURED WITH THE QUEEN'S AWARD FOR INTERNATIONAL TRADE  

 Lo-Q plc (AIM: LOQ), the AIM listed provider of virtual queuing systems for theme parks and major attractions, is proud to announce it has been awarded a 2011 Queen's Award for International Trade, in recognition of its outstanding business success in international markets. 

This is the first time that Lo-Q has won a Queen's Award and is due to its success in more than doubling exports and increasing overseas sales by 120% over the past three years.  Over 90% of Lo-Q's sales are overseas, mainly in the USA, with a growing presence in Australia, Italy, Spain & Germany as well as the UK.

The Queen's Award is an awards programme for British businesses and other organizations who excel at international trade, innovation or sustainable development. They are the highest official UK awards for UK businesses.  To be awarded the Queen's Award for Enterprise in the category of International Trade, a company must show a substantial and sustained increase in export earnings over three consecutive 12-month periods, to a level which is outstanding for the products and services concerned, and for the size of the organization.

Tom Burnet, CEO of Lo-Q commented: "We are immensely proud to receive this recognition in our home market for our contribution to the UK's international trade. This prestigious award recognizes the success we have had in establishing presence in the international trading market in a short period of time. Our dedication to innovation & technology has helped us become the leading provider of virtual queuing systems for the amusement industry around the world and we are proud to be recognized for our efforts."

Celebrating 10 years in operation in 2011, Lo-Q's virtual queuing systems are available at 11 Six Flags parks across the U.S., Dollywood, Blackpool Pleasure Beach, Heide Park, Legoland UK, Parque de Atracciones Madrid, Mirabilandia Italy and many more.

Contacts:

Lo-Q plc	Tom Burnet, Chief Executive	Tel: [phone]
Canaccord Genuity Limited	Simon Bridges/Kit Stephenson	Tel: [phone]
Financial Dynamics	James Melville-Ross/Matt Dixon/Clare Thomas	Tel: [phone]

About Lo-Q

Lo-Q is the creator of a virtual queuing system for theme parks and other leisure attractions that allows users to queue without waiting in line.  Lo-Q users reserve their place in a queue electronically and are notified when their turn is up, spending less time queuing and more time enjoying their day out.  

Lo-Q's system has been adopted by leading theme park and attraction operators globally, with customers including Parques Reunidos, Six Flags, Dollywood and Legoland.  These operators benefit not only from happier customers but also from additional revenue streams as time previously spent queuing is instead transformed in to higher spending in park restaurants, gift shops and other retail facilities.  By the end of 2010, more than six million individuals had used a Lo-Q product and that number is growing.

The Company's technology is protected by extensive patents or patents pending in Europe, USA, Hong Kong and Japan.  The target market for this technology is large and growing, with Lo-Q currently exploring opportunities for expansion into new theme parks and new geographies as well as opportunities to develop new product for other complementary adjacent markets.

Lo-Q is listed on the Alternative Investment Market ("AIM") under the ticker "LOQ."  For further information please visit www.lo-q.com

 

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