28th Jan 2008 07:00
Lo-Q PLC28 January 2008 Lo-Q plc ("Lo-Q" or the "Company") Trading Update Following its year end on 31 December 2007, Lo-Q is pleased to provide thefollowing update to the market. The Company installed the new VQ2020 guest queuing system into three theme parksduring the spring of last year, including Dollywood, and the systems workedsuccessfully during the whole season in their new operating environments. As announced earlier this month, the extension of our agreement with Six FlagsInc provides for installation of the VQ2020 system into four more of theexisting parks, as well as into a new park, Six Flags Fiesta Texas, for the 2008operating season. Should the new system be successfully installed into theseparks, this will result in all but one of the 8 Six Flags parks using the VQ2020system. The enhanced technology and functionality of the VQ2020 system results in itbeing a more attractive product to theme park guests and we expect to deriveincreased revenues from it compared to its predecessor. The Company will look to increase the marketing of its products during thecoming year, with the aim of winning additional theme park operators ascustomers, and expanding the number of operators adopting the Text-Q system,which was acquired by the Company in November 2007. The Company anticipates reporting a pre-tax profit for the year ended 31December 2007 marginally in excess of £500,000, an increase of at least 46 percent. on the normalised pre-tax profit for the prior year. Cash balances at 31December 07 are estimated at £620,000. The Company will announce its results for the year ending 31 December 2007, theweek commencing 14 April. END Jeff McManusLo-Q plc 01491 577 210 John PriorArbuthnot Securities Limited 0207 012 2000 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Accesso Technology Group