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30 Jun 2022 07:00
Immotion Group plc
("Immotion", the "Company" or the "Group")
AGM Trading Update
To coincide with the Company's Annual General Meeting later today, the Company is pleased to provide an update on recent trading. All figures stated below are unaudited.
Trading in the first 5 months of the current financial year is well ahead of the same period last year. Unaudited revenue in the core Location Based Entertainment ("LBE") business for the 5 months to 31 May 2022 was £3.4m (2021: £1.5m), a 127% increase. The Company has seen very strong trading in June so far, the second half of which benefits from the US school holidays, and we now look forward to the busy summer period in our key markets.
Our 40 seat installation at Milwaukee County Zoo is expected to open within the next few days and our 24 seat installation at Pittsburgh Zoo is expected to open in July 2022 following a short delay as a result of awaiting a necessary permit.
We have recently opened a new 6 seat installation at Audubon Aquarium of the Americas, New Orleans, USA and early trading has been very positive.
When the Milwaukee and Pittsburgh installations open, the Company will have 478 operating seats installed at 52 locations.
Interest in both our aquarium and zoo offerings continues to run high and numerous discussions are ongoing with significant potential partners.
We continue to pursue the spin-off of both the Home Based Entertainment business and Uvisan from the Group, as detailed in the Company's announcement of 26 April 2022, and will provide further updates as appropriate. The Company's primary objective remains on focusing all cash and management resources to grow the core LBE business.
Enquiries:
For further information please visit www.immotion.co.uk, or contact:
Immotion Group plc
| Martin Higginson David Marks
| investors@immotion.co.uk |
WH Ireland Limited (Nomad and Joint Broker)
| Jessica Cave Darshan Patel Ben Good
| Tel + 44 (0) 207 220 1666 |
Alvarium Capital Partners (Joint Broker) | Alex Davies | Tel: +44 (0) 207 195 1458 |
Shard Capital Partners LLP (Co-Broker) | Damon Heath Erik Woolgar
| Tel: +44 (0) 20 7186 9900 |
This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
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