Trading Statement

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

 

END

 

 

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