30th Jun 2021 13:35
Immotion Group PLC - Manchester, England-based virtual reality entertainment company - Says it made a small earnings before interest, tax, depreciation and amortisation profit in May followed by a substantial Ebitda profit in June. Notes this was driven by further growth in the revenue of its Location Based Entertainment arm - including its five ImmotionVR Centres in the UK and partner sites - which made record revenue over the past three months, taking GBP402,000 in April and GBP457,000 in May, followed by expected revenue of over GBP600,000 in June. Expects total revenue for June to be more than GBP700,000, with underlying Ebitda of around GBP100,000.
"With the busy summer months ahead of us, and further installs in the pipeline, we expect Q3 to be a period of very strong trading," the company says.
Current stock price: 5.95 pence, up 17% on Wednesday afternoon
Year-to-date change: up 43%
By Scarlett Butler; [email protected]
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