Lo-Q posts positive preliminary results

Lo-Q, the company behind virtual queuing at Six Flags and various other theme parks around the world, has released its preliminary results for the period ending October 31, 2009.

Revenue for the company increased to £17.30 million, which is a rise of 27.9 per cent. Profits before tax rose 29.2 per cent to £2.39 million. Profits after tax dropped to £1.90 million, which represents a decrease of 5.9 per cent.

Lo-Q also managed to secure an additional five customers.

"Lo-Q has added new customers, grown revenues and profits, and maintained a very strong cash position all in the face of an incredibly tough retail trading environment", Chairman of Lo-Q Jeff McManus said.

"Whilst we expect to see 2010 as another year of growth in the face of tough trading we are taking advantage of our secure financial position to re-invest in our existing products but also into new products that can open up whole new growth areas by targeting a wide variety of worldwide leisure parks", Mr McManus added.

Photo: Lo-Q