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| Date/Time | Headline | Source |
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| 09-11-09 | RNS |
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RNS Number : 2219C Lo-Q PLC 09 November 2009 Lo-Q plc (the "Company") 9 November 2009 Exercise of options The Company announces that it has issued 32,000 new ordinary shares of 1 pence each in the Company pursuant to the exercise of options by an employee. Application has been made to the London Stock Exchange for these shares to be admitted to trading on AIM, which is expected to take place on 13 November 2009. Following admission, the Company will have 15,923,667 voting ordinary shares in issue. Contact:
Non-Executive Chairman
Arbuthnot Securities Limited
END This information is provided by RNS The company news service from the London Stock Exchange END
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| 27-10-09 | RNS |
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RNS Number : 4324B Lo-Q PLC 27 October 2009 27 October 2009 Lo-Q PLC ('Lo-Q' or the 'Company') Directors' Interest Lo-Q notifies the following transactions by Directors: On 22 October 2009 John Alder, Finance Director, bought 6,612 ordinary shares of 1p each in the Company ("Shares") at 80.5 p per Share. Following this transactions Mr Alder's interest in the Company comprises 6,612 Shares, representing approximately 0.04% of the Company's issued ordinary shares. On 23 October 2009 Jeff McManus, Chairman, sold 12,500 Shares to his SIPP and sold a further 12,500 Shares to his wife's SIPP, in each case at 80.5p per Share. Following these transfers, Mr McManus's total interest in the Company remains unchanged at 954,172 Shares, representing approximately 6.00% of the Company's issued ordinary shares. Total Voting Rights As at 26 October 2009 the Company has 15,891,667 Shares in issue with voting rights, which figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Service Authority's Disclosure and Transparency Rules. Enquiries: Lo-Q PLC
Arbuthnot Securities
END This information is provided by RNS The company news service from the London Stock Exchange END
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| 06-10-09 | RNS |
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RNS Number : 3541A Lo-Q PLC 06 October 2009 The Company notifies that in its announcement of 6 October 2009, released at 09.56 a.m. under RNS number 2993A, the number of shares the subject of the AIM Application should be 96,916, not 96,915 as originally stated, and Mr Cassar's position is Commercial Director. All other details in the announcement remain unchanged, and the full corrected wording to the announcement is set out below: Lo-Q plc (the "Company") Director's shareholding The Company announces that Mr Paul Cassar, Commercial Director, exercised a total of 96,916 ordinary shares of 1 pence each in the Company ("Shares") on 2 October 2009 at an average price of 6.1702 pence per share, and on the same day sold 16,500 Shares at 75 pence per share. Mr Cassar's resultant interest in the Company comprises 137,143 Shares, representing approximately 0.89% of the Company's issued Shares. Application has been made to the London Stock Exchange for 96,916 Shares to be admitted to trading on AIM, which is expected to take place on 16 October 2009. Following admission, the Company will have 15,453,016 ordinary shares in issue, each with voting rights.. Contact:
Non-Executive Chairman John Prior / Richard Johnson +44 (0) 20 7012 2000 Arbuthnot Securities Limited 6 October 2009 This information is provided by RNS The company news service from the London Stock Exchange END
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| 06-10-09 | RNS |
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RNS Number : 2993A Lo-Q PLC 06 October 2009 Lo-Q plc (the "Company") Director's shareholding The Company announces that Mr Paul Cassar, Director of Finance, exercised a total of 96,916 ordinary shares of 1 pence each in the Company ("Shares") on 2 October 2009 at an average price of 6.1702 pence per share, and on the same day sold 16,500 Shares at 75 pence per share. Mr Cassar's resultant interest in the Company comprises 137,143 Shares, representing approximately 0.89% of the Company's issued Shares. Application has been made to the London Stock Exchange for 96,915 Shares to be admitted to trading on AIM, which is expected to take place on 16 October 2009. Following admission, the Company will have 15,453,016 ordinary shares in issue, each with voting rights.. Contact:
Non-Executive Chairman John Prior / Richard Johnson +44 (0) 20 7012 2000 Arbuthnot Securities Limited 6 October 2009 This information is provided by RNS The company news service from the London Stock Exchange END
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| 14-09-09 | RNS |
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RNS Number : 0089Z Lo-Q PLC 14 September 2009 Lo-Q plc (the "Company") 14 September 2009 Exercise of options The Company announces that it has issued 128,650 new ordinary shares of 1 pence each in the Company pursuant to the exercise of options by employees. Application has been made to the London Stock Exchange for these shares to be admitted to trading on AIM, which is expected to take place on 18 September 2009. Following admission, the Company will have 15,794,751 voting ordinary shares in issue. Contact:
Non-Executive Chairman
Arbuthnot Securities Limited
END This information is provided by RNS The company news service from the London Stock Exchange END
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| 27-08-09 | RNS |
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This news article is displayed preformatted as it may contain results tables
RNS Number : 0732Y
Lo-Q PLC
27 August 2009
Lo-Q plc
("Lo-Q" or the "Company")
INTERIM RESULTS
for the six months ended 30 June 2009
Lo-Q plc, the AIM listed provider of virtual queuing systems for theme parks and major attractions, announces Interim Results for the six months ended 30 June 2009.
Lo-Q designs, installs and operates systems which allow members of the public to make ride and show reservations when they visit a theme park or other attractions. Lo-Q's flagship product, VQ2020, is a true virtual queuing system which uses hand-held units, called Q-bots, in major theme parks around the world, including Legoland Windsor in the UK.
Lo-Q also owns a Text-Q product which allows mobile phone users to reserve their place in line. Users pay a fee and using the premium rate SMS services, avoid standing in a queue. Text-Q was first used at the London Dungeon and Madame Tussauds in London, and is now installed in Flamingo Land, in Yorkshire and Parque Isla Magica in Spain.
Financial Highlights:
* Revenue up 44% to £5.89m (2008: £4.07m)
* Profit before tax of £0.18m (2008: £0.18m)
* Strong cash position: £1.90m in cash (2008: £0.58m); no debt
Operational Highlights:
* Lo-Q products are now used in 16 parks across the world (2008: 11 parks)
* Strong revenue growth despite slower sales in some parks
* Rise in administrative costs due to increased investment in R&D and sales resources
* The reorganisation of Lo-Q's major customer has had no impact on day-to-day park operations
* Change of year end to 31 October to coincide with the more concentrated trading periods at theme parks
* Lo-Q have commenced trading of shares on Sharemark to increase liquidity whilst maintaining commitment to AIM
* The Board has been strengthened with the appointment of two directors
* Possibility of maiden dividend payment, currently being discussed by the Board.
Commenting on Outlook, Jeff McManus, Chairman of Lo-Q, said:
"Sales have continued at a reasonably steady pace through the summer and we therefore expect our full year results to be in line with market expectations. As usual I have to caution that bad weather could negatively impact these estimates, but we are looking forward to a satisfactory finish to the year, with a solid performance during the next two months.
"These results reflect my view that the company has fared extremely positively during this very difficult and challenging period and, with increasing investment in R&D and sales resource, we are well placed to continue this pattern of growth."
Contacts:
Lo-Q plc Jeff McManus, Tel: 01491 577 210
Chairman
Arbuthnot Securities Limited John Prior/Ed Tel: 020 7012 2000
Burbidge
Walbrook PR Ltd Paul McManus Tel: 020 7933 8780
Ben Knowles Mob: 07980 541 893
paul.mcmanus@walbrookpr.com
ben.knowles@walbrookpr.com
Lo-Q plc ("Lo-Q" or the "Company")
Interim Results for the six months ending 30 June 09
Chairman's Statement
Introduction: progress during the first six months of 2009
This has been a period of sustained sales growth and significant investment in future growth whilst maintaining an underlying good cash position. Although sales in some of our theme parks have been slower over the corresponding period last year, this has been more than made up by the increase in the total number of park customers using Lo-Q products across all of the parks.
Financial Results
The Company's sales have continued to grow during the period with revenue up 44% to £5.89m (2008: £4.07m). This increase in sales has been due mainly to the sales of Q-bots from the new parks that have been installed during last winter and spring, and consequently the proportionate cost of sales has been higher and so gross profit rose by 15% to £1.09m (2008: £0.94m).
The rise in administrative costs is attributed mainly to the cost of increased staff in the research and development and sales areas of the company, and the subsequent renting of additional office space for them. The company also continues to invest at a progressively higher rate on R&D and patent protection of new products and systems. As a result Operating Profit fell by 7.2% to £168,881 (2008: £181,839) and with additional financial income from interest received on cash deposits a Pre-tax Profit of £177,042 was recorded, down 2.9% on the same period last year (2008: £182,281).
Cash position and potential maiden dividend
The underlying cash position has remained relatively stable during this six month period. The cash balance at 30 June 2009 was £1.9m.
Should trade continue at the current level we expect to eliminate the retained losses by the end of the company year. As a result the Board should be in a position to pay a maiden dividend and the Board is currently discussing this possibility.
Operations Review
At the previous year end (31 December 2008) we announced that 11 park customers used Lo-Q products in their parks. At 30 June 2009 Lo-Q products are now used in 16 parks across the world, with less than two thirds being with our major customer.
As mentioned above we have seen slower sales in some parks, in part due to the effects of the general financial downturn, the fear of swine flu, but also due to bad weather, particularly in the US (New York had the wettest June for 20 years). Our major customer recently announced results for their first six months of trading this year and reported that park attendance has fallen by 8% when compared with the same period last year. However, despite these negative constraints to our trade, revenues have held up well and any drop in attendance has been more than counterbalanced by trade in the new parks and the effects of the fall in value of the pound.
Reorganisation of our major customer
In June our major customer applied to the Bankruptcy District Court of Delaware for expedited approval of its pre-negotiated plan of reorganisation under Chapter 11 of the United States Bankruptcy Code. The financial reorganisation is currently underway and as expected the whole process has had no impact on day-to-day park operations. The Board is not expecting bad debts from our trade and therefore no provisions have been made.
Change of year end
Those that are familiar with the company will know that most of Lo-Q's trading takes place in a concentrated period when the majority of our theme parks are open and that trading begins to wind down dramatically at the end of October when most parks close for the winter.
As a result we believe it is more appropriate to change our current financial year end to the 31 October. This will mean that the year end balance sheet will provide a robust view of the Group's annual cash position and company's performance to shareholders and potential shareholders as well as suppliers, customers, banks and finance companies.
As a result we expect to announce our results for the 10 months to 31 October 2009 early in the new year.
Trading on Sharemark
The Board has been looking into how we can improve the liquidity of our company's shares and has decided to appoint Sharemark to deal in the company's common stock. This market is to be based on the Sharemark auction procedure, an order driven process, with these auctions being held on the last working Friday of each month. However, our commitment to trading on the AIM market, a quote based process, will still continue.
Strengthening of the Board
To strengthen the ability of the company to deal with the increasingly complex finances of our operation, the Board decided to appoint two directors, John Alder as the Finance Director and Paul Cassar as Commercial Director.
Outlook
Sales have continued at a reasonably steady pace through the summer and we therefore expect our full year results to be in line with market expectations. As usual I have to caution that bad weather could negatively impact these estimates, but we are looking forward to a satisfactory finish to the year, with a solid performance during the next two months.
These results reflect my view that the company has fared extremely positively during this very difficult and challenging period and, with increasing investment in R&D and sales resource, we are well placed to continue this pattern of growth.
Jeff McManus
Chairman
26 August 2009
Consolidated Interim Income
Statement
Six months to 30 Jun Six months to 30 Jun 2008
2009
£ £
Continuing Operations
Revenue 5,893,364 4,070,048
Cost of Sales 4,802,247 3,125,953
Gross profit 1,091,117 944,095
Administrative expenses 922,236 762,256
Operating Profit 168,881 181,839
Finance costs (15) (1,247)
Finance income 8,176 1,689
Profit before tax 177,042 182,281
Taxation on profit on ordinary (35,572) -
activities
Profit for period 141,470 182,281
Earnings per share (pence)
Basic 0.91 1.2
Diluted 0.83 1.15
All amounts relate to
continuing activities
There are no recognised gains or losses other than those within the profit and loss account.
Consolidated Balance Sheet
As at 30 Jun 2009 As at 30 Jun 2008
ASSETS £ £
Non-Current Assets
Intangible assets 611,797 557,433
Property, Plant and Equipment 56,255 25,270
Deferred Tax 159,428
827,480 582,703
Current Assets
Inventories 357,761 372,442
Trade and other receivables 826,692 191,870
Tax receivable 569 884
Cash and cash equivalents 1,901,287 575,973
3,086,309 1,141,169
Current Liabilities
Trade and other payable 505,833 288,030
Net Current Assets 2,580,476 853,139
Net Assets 3,407,955 1,435,842
EQUITY
Issued capital and reserves
Called up share capital 155,066 153,211
Share premium account 5,008,950 5,001,063
Shares to be issued reserve 0 66,250
Other reserves 78,079 65,243
Profit and loss account (1,834,140) (3,849,925)
Total Equity 3,407,955 1,435,842
Total Equity 3,407,955 1,435,842
Consolidated cash flow statement
Six months to 30 Jun 2009 Six months to 30 Jun 2008
£ £
Cash Flows From Operating
Activities
Total Operating Profit / 168,881 181,839
(loss)
Non-Cash Adjustments
Depreciation 88,280 64,189
Unrealised gains on foreign (108,680) 15,364
currency exchange
Share based payments 20,000 25,389
Non-Cash Adjustments (400) 104,942
Cash Flows Before Changes in 168,481 286,781
working Capital
Increase in Working Capital
Increase in inventories (50,737) (200,784)
Increase in trade and other (728,213) (71,478)
receivables
Decrease/(Increase) in trade 108,518 66,896
and other payables
(Decrease)/Increase in tax (10,562) (5,294)
payable
Increase in Working Capital (680,995) (210,660)
Cash Flows From Operating (512,513) 76,121
Activities
Cash Flows From Investing
Activities
Payments to acquire property, (163,449) (145,159)
plant and equipment
Cash Flows From Financing
Activities
Gross proceeds from issue of 9,738 13,715
equity share capital
Interest Received 8,176 1,689
Interest Paid (15) (1,247)
Net Cash Flows From Financing (145,551) (131,002)
Activities
Net decrease in Cash and Cash (658,064) (54,881)
Equivalents
Cash and Cash equivalents as 2,559,351 630,854
at 1 January 2009
Cash and Cash Equivalents As 1,901,287 575,973
At 30 June 2009
Consolidated Statement Of Changes In Equity
Issued capital Share premium Other reserves Retained earnings Total equity
£ £ £ £ £
Balance at 1 January 2009 153,216 5,001,063 58,079 (1,866,930) 3,345,428
Profit for the year - - - 141,470 141,470
Total income for the year
recognised
directly in equity - foreign - - - (108,680) (108,680)
exchange
Total recognised expense for 153,216 5,001,063 58,079 (1,834,140) 3,378,218
the year
Issue of share capital 1,850 7,887 - - 9,737
Recognition of share-based - - 20,000 - 20,000
payments
Balance at 30 June 2009 155,066 5,008,950 78,079 (1,834,140) 3,407,955
Balance at 1 January 2008 149,292 4,991,266 106,104 (4,047,570) 1,199,092
Profit for the year - - - 182,281 182,281
Issue of share capital 3,919 9,797 - -
Recognition of share based - - 25,389 - 25,389
payments
Total expense for the year
recognised
directly in equity - foreign - - - 15,364 15,364
exchange
Balance at 30 June 2008 153,211 5,001,063 131,493 (3,849,925) 1,435,842
Notes to the Interim Statements
1. These accounts have been prepared in accordance with the International Financial Reporting Standards (IFRS).
The interim statement for the six months are unaudited and do not constitute statutory accounts for the purpose of the Companies Acts. The accounts for the year ended 31st December 2008 have been filed with the Registrar of Companies and the auditors' report on those accounts was not qualified.
2. Corporation tax is provided at 28% on profit for the period.
3. Earnings per share have been calculated on the profits for the period after taxation and 15,631,101 shares in issue. The diluted earnings per share calculation is based on 17,129,122.
5. The directors have not declared an interim dividend. No dividend is shown in the income statement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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