Venue Solutions’ interim revenues have slumped.
The screens and venue software and equipment supplier reported a fall in revenues from £2.33m to £535,000 in the six months to May 2008. The loss more than doubled from £674,000 to £1.57m.
These figures were released after 4pm on the last day possible without having the company’s shares suspended on 1 September.
YourDay , which creates individual videos of a visit to the rides of a theme park, has started generating revenues from its first installation. The system capacity at Alton Tower is nearly 7,000 people a day. Take up is increasing.
Management intends to focus on marketing the YourDay system to other theme parks in the UK and overseas.
Net debt was £413,000 at the end of May. Venue Solutions is continuing to cut its costs and is still talking to potential finance providers. The company is also concentrating on higher margin system design and project management parts of the business.
Former boss Dominic Berger has left the board.
At 1.875p a share, Venue Solutions is valued at £1.31m.
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