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Lo-Q

  • BY: Andrew Hore |
  • POSTED: 23/06/2009 |

Lo-Q says that trading has been variable so far this year but it expects to meet profit expectations.

The virtual queuing technology developer’s house broker Arbuthnot forecasts 2009 profits of £2.1m on revenues of £19.1m.

Some days have been better than last year whiles others have been worst. Lo-Q puts this down to poor weather. On the good days a higher percentage of visitors to the theme parks have taken up the option of a Lo-Q device.

Trading in newer parks has been encouraging.

The shares continue to decline following its biggest customer, Six Flags, filing for bankruptcy protection. The shares lost a further 2.5p taking them to 65p each, which values Lo-Q at £9.96m. The shares are trading on a prospective 2009 multiple of five. 

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