Lo-Q losses widen

Shares of Lo-Q tumbled after it reported wider first half losses but said it had seen good sales momentum for its virtual queuing products.The aim-listed technology solutions provider to the attractions and leisure industry reported an underlying pre-tax loss of £1.58m for the six month period ended April 30th 2013 compared to a loss of £1.15m a year earlier. The group, which makes waterproof Q-band virtual queuing wristband used in Wet'n'Wild Las Vegas, said revenue increased to £5.57m from £3.71m before.Lo-Q said it: "Continued to see a resilient and positive trading growth in our queuing business despite poor weather impacting theme park activity globally." It added that its acquired ticketing and e-commerce group Accesso is performing ahead of plan.Net debt came in at £1.82m compared with a £5.27m cash position in the first half of last year.CJ