(Alliance News) - Live Company Group PLC on Friday said trading in the year so far is in line with market expectations and it expects to exceed its event target.
Shares in Live Co were up 3.1% at 50.00 pence in morning trade.
Speaking at the company's annual general meeting, Executive Chair David Ciclitira said the company has so far secured 67% of its 2019 revenue.
Live Co, a operator of touring Lego-based events show Bricklive and Ciclitira, expects to beat its 60 event target, as 52 events are already confirmed for the year and there are "several more in the pipeline".
As at June 30, Live Co was trading in line with market expectations and said it had "secured multi-year contracts with a value of GBP4.4 million for 2019 and GBP1.3 million for 2020". The firm's 2018 total revenue was GBP5.4 million.
Also at the end of June, Live Co owned 690 brick models, up from 650 on March 31.
The company also said it has "taken note of shareholder comments" and is intending to appoint "a non-executive with relevant PLC experience" to chair its remuneration committee.
Further, Ciclitira will not accept his 500,000 share bonus, which was agreed by the board in the event that Live Co met its performance target in 2019.
"Whilst, I remain fully committed to achieving this performance target and driving value for the group, I can confirm that should the performance target be achieved, I have decided not to accept the award of the bonus shares," the chair said.
"Looking ahead, we remain focused on delivering our ambitious strategic goals and hope to exceed market expectations, creating long term value for our shareholders," he added.
Live Company (LVCG)