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Lo-Q

  • BY: Andrew Hore |
  • POSTED: 09/03/2009 |

Lo-Q has won its first contract in Italy.

The theme park virtual queuing technology developer will supply its VQ2020 system to the Mirabilandia theme park in Ravenna, Italy. This park had 1.7m visitors in 2008. The park’s owner Parques Reunidos is the second largest operator of leisure parks in Europe. It operates 67 parks so there is scope for more contracts if things go well in Ravenna.

The agreement is initially for one year but can be extended to five years. The system will be installed before Easter. There will initially be 370 handheld Q-bots.

Legoland in Windsor was the first European theme park to use the technology although it is used by a dozen theme parks in the US,

At 40p a share, Lo-Q is valued at £6.13m.

Profits will be more than £1.85m in 2008, while house broker Arbuthnot estimates 2009 profits of £2.1m. The shares are trading on around three times forecast 2009 profits.

Full year figures will be published in the week commencing 6 April 2009.

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