(Sharecast News) - Children's entertainment and education group Live Company warned on Friday that full-year results looked set to be below market expectations despite recording some strong growth in 2019.
While Live's touring and event units topped expectations, the group said trading was hit by lower-than-expected license and content fees from China, fewer corporate builds and lower returns from its BRICKLIVE show in Birmingham.
The AIM-listed firm cautioned that revenues were expected to be £5.5m, up from the £4.9m recorded a year earlier as the company expected to swing to a profit and turn in positive underlying earnings of £700,000 - a marked turnaround from the £400,000 underlying loss reported a year earlier.
However, the result was still lower than initially expected as a result of a delay in certain revenues that were anticipated to be received before the end of the year. Live said those revenues were now expected to be received in the first quarter of 2020.
Net assets were expected to rise approximately £4m, driven by funds raised for the BRICKLIVE Zoo programme, the £2m Riverfort funding agreement and the conversion of deferred liabilities into equity.
As of 0955 GMT, Live Company shares were down 17.29% to 24.81p.
Live Company (LVCG)3 Apr 2024 11:53
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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News: