David Ciclitira, Chairman of Live Company Group said: “The first six months of this year have been an amazing journey. Having only created Live Company Group at the end of last year, we have achieved a great deal. 2018 was always going to be a year of investment, and I am pleased that we have recorded a profit, whilst managing to expand internationally. I believe that this is a good base for our full-year results and we look forward to the growth in the second half of this year. The recent announcements relating to both China and BRICKLIVE’s launch of the joint venture in America are an indication of the exciting times we have ahead, both for the rest of 2018 and into 2019.”
Live Company Group Plc (LON: LVCG), a leading live event and entertainment group, today announced its half-yearly results for the six month period ended 30 June 2018.
Highlights for the period
o Group revenues from continuing operations for six months to 30 June 2018 were £2.842m. This compares favourably to full year revenues to 31 December 2017 of £1.928m.
o Operating profit from continuing activities in the period of £503k (FY 2017: operating loss of £391k, before exceptional items).
o Following the Group’s high profile show in New York in February 2018, decision to launch the BRICKLIVE brand across the US and to discontinue the LEGO LIVE brand.
Post-period events
o Launch by the Group’s joint venture partner in China of BRICKLIVE ANIMAL PARADISE in August 2018 in the National Stadium, Beijing, the first event of a 20 city tour in China over the next three years.
o Joint venture signed, in September 2018, in the US with Three Six Zero, to create Parallel Three Six Zero Inc., and exclusivity terms agreed by PTSZ with Live Nation Entertainment, Inc. for the promotion of BRICKLIVE events throughout North America.
o On 26 September 2018, the Company notified that it is in discussions with regard to a potential equity fundraising, to finance the potential acquisition of a complementary business to the Group and to accelerate organic growth.
